Chinese Executives Waiting for Rebound in Consumer Spending

Consumer spending in China is still on the road to recovery and may likely take until the second half of the year to improve, according to major Chinese executives. China consumer prices rose by 1 percent in February compared to a year ago. A strict Zero COVID policy and a real estate downturn hindered China’s economy last year. On Sunday, China announced a conservative economic growth target of 5 percent for the year. Officials said increasing consumption was a priority and that they expected it would be a driver of overall growth.