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China’s consumers will power its coronavirus recovery, as their blockbuster May Day spending shows

The May Day holiday marked the first long national holiday since China almost fully relaxed its Covid-19 lockdown measures. The consumption data for those five days paints a telling picture of the recovery of domestic demand.In order to stimulate consumption, the authorities extended the holiday to five days, making long-distance trips easier for consumers. This, coupled with pent-up demand left over from the pandemic, drove a strong consumption rebound in various sectors, as reflected by…

Read the original article at South China Morning Post

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