Chinese state media say at least 3 million shops and restaurants in China were forced to close or had their licenses revoked in the first 11 months of last year. Photo: EPA-EFE
Chinese state media say at least 3 million shops and restaurants in China were forced to close or had their licenses revoked in the first 11 months of last year. Photo: EPA-EFE

China’s weakened consumer spending leaves ‘a lot of work to do’ in driving economic growth

  • Policies are needed to improve livelihoods and support low-income earners, or analysts say China’s new plan to rely on domestic consumption could fall flat
  • Household debt has risen rapidly in China as more consumers turn to loans to make ends meet in times of economic hardship

Chinese state media say at least 3 million shops and restaurants in China were forced to close or had their licenses revoked in the first 11 months of last year. Photo: EPA-EFE
Chinese state media say at least 3 million shops and restaurants in China were forced to close or had their licenses revoked in the first 11 months of last year. Photo: EPA-EFE
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