Coronavirus Latest News

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

Related Articles

Back to top button