China’s wide income gap holds back consumer spending
4 years, 2 months ago

China’s wide income gap holds back consumer spending

Al Jazeera  

China is the only major economy to have grown last year, but a wide income gap is leading to an unbalanced recovery. China’s successful control of Covid-19 made it the only major economy to have grown last year, but a wide income inequality gap and still weak consumer spending reflects an unbalanced recovery. Here’s a deeper look at some of the underlying data published alongside the gross domestic product report this week: Income Gap Official figures released on Monday which showed that the economy’s growth rate surpassed pre-pandemic levels in the last quarter also revealed that the richest 20% of Chinese had an average disposable income of more than 80,000 yuan last year, 10.2 times what the poorest 20% earn. Weak Consumption The full-year 2020 data also showed that even though China’s suppression of the virus allowed normal economic activities to resume by the second half of the year, growth in household spending has yet to return to pre-pandemic levels. Government Support Weak private spending meant the share of consumption in the economy declined last year, contrary to Beijing’s longer-term aim to create a more consumer-driven economy.

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History of this topic

GDP showing more signs of stabilizing
1 day, 14 hours ago

GDP showing more signs of stabilizing

China Daily  

Wu Xiaoqiu, Huang Qifan and Peng Sen at a high-level dialogue on China's reform and economic prospects during the ongoing Boao Forum for Asia Annual Conference 2025. This recovery trend is irreversible," Peng Sen, president of the China Society of Economic Reform, said during a high-level dialogue on China's reform and economic prospects during the ongoing Boao Forum for Asia …

Retail giants bullish on consumption rebound
2 days, 14 hours ago

Retail giants bullish on consumption rebound

China Daily  

China Daily | Updated: 2025-03-25 10:30 Q4 Driving domestic consumption is one of the top priorities for China to spur economic growth this year. LIU: China's consumption potential remains robust, driven by a growing middle-income group and policy incentives like duty-free expansion. ZHANG: With its 1.4 billion population, China's market presents unparalleled potential for baked goods industry growth. YOOVIDHYA: China's …

Retail giants bullish on consumption rebound
Top News
2 days, 14 hours ago

Retail giants bullish on consumption rebound

China Daily  

China Daily | Updated: 2025-03-25 10:30 Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. LIU: The two sessions introduce policies focused on deepening reforms and expanding high-level opening-up, especially those in line with initiatives like the 2025 Action Plan for Stabilizing Foreign Investment. As an ultra-premium New Zealand pet food brand in China, …

Stay vigilant: China’s economic woes could spill over
1 week, 1 day ago

Stay vigilant: China’s economic woes could spill over

Live Mint  

As a tariff-happy America under Donald Trump puts China’s export-oriented economy on notice with trade barriers, Beijing is doubling down on efforts to stimulate domestic demand. Under it, China’s government has announced dozens of small moves aimed at easing people’s financial burden and pushing fiscally strapped local administrations to clear their dues to businesses. Beijing hopes to sustain last year’s …

China's retail sales, investment pick up pace
1 week, 3 days ago

China's retail sales, investment pick up pace

China Daily  

China's economy continued to recover in the first two months this year as consumption and investment showed improvement, official data showed on Monday, making a steady start for 2025. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 5.9 percent over the January-February period from a year earlier after a …

China's retail sales, investment pick up pace
1 week, 3 days ago

China's retail sales, investment pick up pace

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2025-03-17 10:00 China's economy continued to recover in the first two months this year as consumption and investment showed improvement, official data showed on Monday, making a steady start for 2025. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 5.9 percent over …

China economy: Beijing unveils plan to boost consumption as Trump tariffs bite
1 week, 4 days ago

China economy: Beijing unveils plan to boost consumption as Trump tariffs bite

CNN  

Hong Kong CNN — China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump. The plan builds on Premier Li Qiang’s promise during a major political meeting earlier this month to ensure that the “giant ship of China’s economy” will “sail steadily …

China Consumer Inflation Drops Below Zero for First Time in Year
2 weeks, 4 days ago

China Consumer Inflation Drops Below Zero for First Time in Year

Live Mint  

-- China’s consumer inflation dropped below zero for the first time in 13 months, a reading skewed by seasonal distortions but also a reminder of persistent deflationary pressures in the economy. A clearer read on China’s inflation trajectory will emerge in March, as investors look for signs that the government’s stimulus is translating into stronger domestic demand. It’s a signal …

Household spending key to strong growth
1 month, 1 week ago

Household spending key to strong growth

China Daily  

As China navigates a decline in the property market and rising global economic uncertainties, consumption is poised to assume an even more crucial role in driving the country's economic growth this year, analysts said. According to analyses conducted using World Bank data, the average consumption rate among 10 major economies, accounting for 63 percent of global GDP collectively, stood at …

Chinese economy expected to rebound continuously in 2025: economist
Trending News
1 month, 2 weeks ago

Chinese economy expected to rebound continuously in 2025: economist

China Daily  

The skyline of Beijing. The Chinese economy is expected to rebound continuously in 2025 despite new variables, an economist said as reported by Chinese financial news outlet Yicai on Sunday. The unprecedented popularity of the domestic cultural and travel consumption market during the Spring Festival holiday and the emergence of DeepSeek AI model have contributed to people's confidence in the …

Even festive spending isn't bringing cheer to sluggish Chinese economy
1 month, 2 weeks ago

Even festive spending isn't bringing cheer to sluggish Chinese economy

Firstpost  

Even as China pushes to revive consumer demand, analysts remain skeptical. Citic Securities forecasts a modest 0.3 per cent rise in consumer prices this year, with factory prices not coming up in green, but only narrowing their decline to 1.4 per cent in 2025 People wait to board trains at the Shanghai Hongqiao railway station ahead of the National Day …

Even festive spending isn't bringing cheer to sluggish Chinese economy
1 month, 2 weeks ago

Even festive spending isn't bringing cheer to sluggish Chinese economy

Firstpost  

Even as China pushes to revive consumer demand, analysts remain skeptical. Citic Securities forecasts a modest 0.3 per cent rise in consumer prices this year, with factory prices not coming up in green, but only narrowing their decline to 1.4 per cent in 2025 People wait to board trains at the Shanghai Hongqiao railway station ahead of the National Day …

CPI growth accelerates on holiday spending
1 month, 2 weeks ago

CPI growth accelerates on holiday spending

China Daily  

China's economy is showing fresh signs of recovery as consumer inflation accelerated in January due to the influence of the Spring Festival holiday, official data showed on Sunday, pointing to a gradual recovery in domestic demand. Feng said the recovery in market demand has yet to provide strong support for industrial products price growth, noting that the "timing of the …

CPI growth accelerates on holiday spending
1 month, 2 weeks ago

CPI growth accelerates on holiday spending

China Daily  

China's economy is showing fresh signs of recovery as consumer inflation accelerated in January due to the influence of the Spring Festival holiday, official data showed on Sunday, pointing to a gradual recovery in domestic demand. Feng said the recovery in market demand has yet to provide strong support for industrial products price growth, noting that the "timing of the …

Consumers to play bigger role in spurring growth
2 months ago

Consumers to play bigger role in spurring growth

China Daily  

A consumer checks out Lenovo laptops in Shanghai in May. CHINA DAILY China's consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives. In particular, the country's trade-in initiatives, which have contributed to a more …

GDP growth of 5% hits target
2 months, 1 week ago

GDP growth of 5% hits target

China Daily  

CHINA DAILY China's gross domestic product expanded 5 percent in 2024, official data showed on Friday, which is in line with the country's preset target of around 5 percent and provides a solid base for stabilizing the economy this year. Economists said China's economy will likely continue to grow at around 5 percent this year if the government adopts more …

GDP growth of 5% hits target
2 months, 1 week ago

GDP growth of 5% hits target

China Daily  

CHINA DAILY China's gross domestic product expanded 5 percent in 2024, official data showed on Friday, which is in line with the country's preset target of around 5 percent and provides a solid base for stabilizing the economy this year. Economists said China's economy will likely continue to grow at around 5 percent this year if the government adopts more …

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
2 months, 1 week ago

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures

The Hindu  

China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, helped by strong exports and recent stimulus measures. Exports expanded 7.1% in annual terms, while imports grew 2.3% The world’s second largest economy has struggled with weaker consumer spending and resulting deflationary pressures as its …

China's economy expands 5% in 2024, reaching target helped by strong exports, stimulus measures
2 months, 1 week ago

China's economy expands 5% in 2024, reaching target helped by strong exports, stimulus measures

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China's economy expanded at a …

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
2 months, 1 week ago

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures

Associated Press  

HONG KONG — China’s economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and recent stimulus measures. “Particularly, with a package of incremental policies being timely rolled out, public confidence was effectively bolstered and the economy recovered remarkably,” it said. “We …

How COVID-19 Transformed China’s Domestic and International Trajectory
2 months, 2 weeks ago

How COVID-19 Transformed China’s Domestic and International Trajectory

The Diplomat  

Five years after the novel coronavirus first emerged, China’s major metropolises bear virtually no visible scars of their unprecedented battle with COVID-19. State media acknowledged that the extremely high gross domestic saving rate – over 44 percent in 2023 – reflects “people’s growing insecurity about the future and their inclination to save as a precaution against risks.” Despite Beijing’s efforts …

China’s economy has not peaked
2 months, 3 weeks ago

China’s economy has not peaked

Live Mint  

What happens to the world economy and global geopolitics in 2025 will depend significantly on China, the world’s largest exporter and second-largest consumer market. And the property-market crisis finally seems to be moderating, with transactions increasing following the government’s bold intervention to support the sector, which, directly and indirectly, accounts for one-third of the Chinese economy. This helps to explain …

China Sees Manufacturing Sector Expand At Muted Pace In December
2 months, 3 weeks ago

China Sees Manufacturing Sector Expand At Muted Pace In December

ABP News  

The manufacturing activity in China climbed for the third consecutive month in December, however, the pace remained marginal, an official factory survey showed on Tuesday. However, authorities remain optimistic that fiscal and monetary measures released later in the year would lead to a turnaround in the property market, which has weighed down the broader economy. An improvement in domestic demand …

5 things about China’s struggle to get out of Covid shock to its economy
2 months, 3 weeks ago

5 things about China’s struggle to get out of Covid shock to its economy

Firstpost  

China’s struggle to recover from the shock of COVID-19 in 2024 laid bare long-standing vulnerabilities in its economy. China’s economy once hailed as the engine of global growth, faced a tumultuous 2024 affected by a series of economic and geopolitical challenges. Never really recovered from COVID shock China’s economy faced a continuing sluggish recovery in 2024 due to the consequences …

China to raise fiscal deficit next year to support struggling economy
3 months ago

China to raise fiscal deficit next year to support struggling economy

Live Mint  

China, the world's second-largest economy, plans to raise fiscal deficit to boost spending in 2025 to support its struggling economy, reported AFP, citing state media. In 2024, China took several measures to boost economic growth, such as cutting interest rates, cancelling restrictions on buying houses and easing the debt burden on local governments. According to economists, more direct fiscal stimulus …

China’s weak consumption drags on economy as Trump tariff threat looms
3 months, 1 week ago

China’s weak consumption drags on economy as Trump tariff threat looms

CNN  

Beijing Reuters — China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. “China’s economic policies have been amazingly consistent in promoting manufacturers over consumers despite clear signs of lasting weakness,” said Dan Wang, a …

Bailing out China's economy has suddenly become more urgent
4 months, 2 weeks ago

Bailing out China's economy has suddenly become more urgent

ABC  

Beijing is clearly rattled. Trump's trade war timetable If Donald Trump lives up to his word, China is expected to lose its World Trade Organisation 'favoured nation status' with the US, as a first step, before imposing tariffs on the country and then, possibly, the rest of the world. "We are assuming a 60 per cent tariff hike on about …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
4 months, 2 weeks ago

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?

Live Mint  

China is expected to unveil significant economic measures Friday at the conclusion of the National People's Congress Standing Committee meeting, aiming to revive its struggling economy, AP reported. Analysts believe China may need substantial, multi-trillion-yuan initiatives to reinvigorate growth in the world’s second-largest economy, which has yet to recover fully from the COVID-19 pandemic. Any new spending or economic boost …

Moves seen helping boost consumption
4 months, 3 weeks ago

Moves seen helping boost consumption

China Daily  

Consumer products on display at the ongoing China International Import Expo in Shanghai. ZHANG WEI/CHINA DAILY China's recent introduction of a potent stimulus policy package, including dedicated efforts to shore up consumer spending, will provide massive opportunities for global businesses keen to tap into its super-sized market and facilitate the transition toward a consumption-led growth model, global executives said on …

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS
4 months, 3 weeks ago

China has been plunged into a major financial crisis - this is how it could damage the investments in YOUR pension or Isa: JOHN-PAUL FORD ROJAS

Daily Mail  

China is in a major economic crisis - perhaps the most serious since it set out on its dizzying trajectory of economic growth more than four decades ago. The People's Bank of China is taking action against a screeching slowdown in economic growth by cutting interest rates and offering more support to banks and the housing sector 'It is fair …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
4 months, 3 weeks ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy
5 months ago

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy

LA Times  

China’s 1.4 billion consumers once spent with enough abandon to help drive the global economy. While the bigger factor is a worsening real estate downturn, which has eroded demand for commodities and diminished a crucial vehicle for household wealth and investment, economists say China’s economy is unlikely to recover without a rise in domestic spending. Chinese consumers are going through …

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target
5 months, 1 week ago

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The latest data show the world’s second largest economy …

China factory surveys show economy weakening, as Beijing steps up support
5 months, 3 weeks ago

China factory surveys show economy weakening, as Beijing steps up support

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China's economy weakened further in …

China grappling with weak consumer demand
5 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

By Sheng Songcheng | China Daily | Updated: 2024-09-30 07:48 AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax …

China grappling with weak consumer demand
5 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax revenue last year and would have minimal impact on overall …

China's economy softens in August as Beijing continues to grapple with lagging demand
6 months, 1 week ago

China's economy softens in August as Beijing continues to grapple with lagging demand

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China’s economy softened in August, …

China's industrial output, retail sales continue to rise in August
6 months, 1 week ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

China's industrial output, retail sales continue to rise in August
6 months, 1 week ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

China's industrial output, retail sales continue to rise in August
6 months, 1 week ago

China's industrial output, retail sales continue to rise in August

China Daily  

China reported key economic figures on Saturday showing slower growth on industrial production, consumer spending, and investments, which called for greater policy support to consolidate the country's economic recovery. Figures released on Saturday by the National Bureau of Statistics showed China's value-added industrial output, a gauge of activity in the manufacturing, mining, and utilities sectors, grew by 4.5 percent in …

Efforts to boost consumption urged
7 months ago

Efforts to boost consumption urged

China Daily  

A growing number of economists are calling on Chinese policymakers to ramp up efforts to revive consumer sentiment and stabilize expectations, in a bid to address the pressing challenges of still-weak domestic demand and to bolster the world's second-largest economy. Among the traditional trio driving China's economic development — exports, investment and consumption — the economists emphasized that boosting consumption …

Experts see economy stabilizing
7 months, 1 week ago

Experts see economy stabilizing

China Daily  

A worker conducts motion tests on AGV handling robots at the integrated AMT workshop of FAW Jiefang Automotive Co, a subsidiary of China FAW Group, in Changchun, Jilin province, on Aug 5, 2024. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces will inject fresh …

Experts see economy stabilizing
7 months, 1 week ago

Experts see economy stabilizing

China Daily  

China's economy is likely to gradually stabilize in the third and fourth quarters, as policymakers are poised to step up stimulus measures aimed at stabilizing growth and deepening economic structural reforms, prominent economists said on Monday. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces …

China's factory output disappoints, dashing hopes for speedy recovery
7 months, 1 week ago

China's factory output disappoints, dashing hopes for speedy recovery

The Hindu  

China's factory output growth slowed and missed expectations in July, adding to a series of indicators that show the world's second-largest economy is struggling to kick into a higher gear, even with recent government support. "The data shows that the economy has gotten off to a weak start in the second half of the year, and it is expected that …

China’s economy fails to pick up after worst stretch in five quarters
7 months, 1 week ago

China’s economy fails to pick up after worst stretch in five quarters

Hindustan Times  

China’s weakening economic momentum failed to pick up as sluggish confidence weighs on consumption and investment, putting the government’s annual growth target at risk. “It tells us that maybe one day, the weakness in the demand-side will return to bite the other side.” The latest snapshot of the $17 trillion economy shows domestic demand is barely benefiting from recent government …

China reports growth in the consumer economy
7 months, 1 week ago

China reports growth in the consumer economy

China Daily  

chinadaily.com.cn| Updated :2024-08-15 China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by 2.7 percent year-on-year in July, up …

China reports growth in the consumer economy
7 months, 1 week ago

China reports growth in the consumer economy

China Daily  

China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by 2.7 percent year-on-year in July, up from the 2 …

China reports growth in the consumer economy
7 months, 1 week ago

China reports growth in the consumer economy

China Daily  

China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by 2.7 percent year-on-year in July, up from the 2 …

Former IMF official foresees China's rise as service powerhouse, warns of external challenges
7 months, 1 week ago

Former IMF official foresees China's rise as service powerhouse, warns of external challenges

China Daily  

Former IMF Deputy Managing Director Zhu Min delivers a speech at the 3rd Understanding China Conference in Beijing, China. Official data show that in the first six months of this year, China's retail sales of services increased 7.5 percent from a year ago, 4.3 percentage points higher than that of goods, while service consumption accounted for 45.6 percent of the …

China reports growth in the consumer economy
7 months, 1 week ago

China reports growth in the consumer economy

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2024-08-15 10:01 China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by …

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