China to Further Stimulate Consumption

China will continue to promote consumption with multiple measures in 2022 as the country faces downward pressure, Xinhua reported the Ministry of Commerce as saying on Tuesday.

Sales of consumer goods posted only 1.7% growth year-on-year in December 2021 as the whole year’s retail sales rose 12.5%, indicating demand contraction, commerce minister Wang Wentao said.

Read the full report: Xinhua

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.