Both the Shanghai and Shenzhen composite indices had risen 12 per cent and 32 per cent this year before falling by 7 per cent and 8 per cent respectively this week. Photo: Reuters
Could China’s stock market rally, direct subsidies help boost sluggish consumer spending?
- China’s overall economy grew by 3.2 per cent in the second quarter of 2020, bouncing back from a 6.8 per cent contraction in the first three months of the year
- But total per capita disposable income dropped 1.3 per cent from a year earlier, while real per capita consumer spending fell 9.3 per cent in the first six months
Both the Shanghai and Shenzhen composite indices had risen 12 per cent and 32 per cent this year before falling by 7 per cent and 8 per cent respectively this week. Photo: Reuters
