Chinese citizens are sitting on cash and not spending China savings cash
Chinese consumers are saving more and hoarding cash instead of spending it. This contradicts Beijing's efforts to lift COVID-19 restrictions to boost economic activity.
With the Chinese government lifting its COVID-zero regulations late last year, activity in the retail and travel sectors started to improve. And the Chinese Lunar New Year celebrations at the beginning of 2023 also helped. But it will take time for the rebound to kick in. This data comes as China has stepped up its gold purchases at the official-sector level and retail demand level.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Popeyes to re-enter Chinese market with Tims China partnership - BNN BloombergFast-food restaurant chain Popeyes is planning to re-enter the Chinese market through a partnership with TH International, the company that operates Tim Hortons in China.
Read more »
Auto leaders call on Canada to take action on EV transition as U.S. cash flowsLeaders emphasized the need for government support to balance the funding being provided by the U.S. Inflation Reduction Act. Read more.
Read more »
Soybeans to the sun: In the Republican Midwest, solar panels are the new cash cropWith millions of acres of flat farmland, Ohio and Indiana are becoming leading U.S. states for solar power development. Read on.
Read more »
Photography exhibit explores the trauma, resilience of Chinese immigrants to CanadaIn the grotto at Contemporary Calgary, visitors will be greeted at the entrance by a makeshift glass curtain.
Read more »
U.S. failed to detect past Chinese spy balloons over United States, senior general saysChinese spy balloons had briefly flown over the U.S. at least three times during Trump’s administration and one previously under Biden, Pentagon says
Read more »
White House: Improved surveillance caught Chinese balloonWASHINGTON (AP) — U.S. officials said Monday that improvements ordered by President Joe Biden to strengthen defenses against Chinese espionage helped identify…
Read more »