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Shanghai bets on consumer spending to propel the battered local economy in post-coronavirus era

Angus Gu, a jeweller, was one of hundreds of retailers to set up a market stall outside Shanghai’s Bund Finance Centre (BFC) at the weekend in a bid to reach shoppers beyond his loyal customer base.The inaugural BFC Weekend Market, showcasing mainly local goods at knockdown prices, was part of a huge push by the city’s authorities to stave off recession by boosting consumption after Covid-19 lockdown.The government aims to reignite the faltering economy by fostering what it terms innovative…

Read the original article at South China Morning Post

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