Beijing intends to scale back trillions of yuan worth of stimulus it launched last year. Photo: Xinhua
Beijing intends to scale back trillions of yuan worth of stimulus it launched last year. Photo: Xinhua

China’s post-coronavirus consumer spending ‘not enough’ to drive growth, says prominent economist

  • Yu Yongding, a senior researcher with the Chinese Academy of Social Sciences, says Beijing’s plan for domestic consumption to drive growth could fall short
  • Household spending is expected to bounce back once the pandemic is over, but the government cannot scale back infrastructure spending in the meantime, Yu says