China Consumption Recovery in H2 to Remain Slow: News

Consumer spending in China in H2 will continue to be impacted by recurring outbreaks both at home and abroad, and it is unlikely to return to the previous usual level soon, the Shanghai Securities News reported citing Lian Ping, head of research at Zhixin Investment. Policymakers should try to encourage consumption by policies such as improving supporting infrastructure in smaller cities and rural areas, the newspaper said citing Wei Jianguo, a former Vice Minister of Commerce. A major consumption boost likely won't happen until the October Golden Week holiday, Wei was cited as saying by the newspaper. The number of people traveling and tourism revenues in the second half will likely be around 80% of the levels in 2019, the newspaper said citing a study by the China Tourism Research Institute.