China's big consumer market isn't rebounding to pre-pandemic levels just yet
Publishing timestamp: 2023-01-09 00:05:12
Summary
Chinese consumer spending is unlikely to return to 2021 levels due to macroeconomic developments. Coffee shop owner Timothy Chong said revenue was recovering to 50% of normal levels. Chinese travel overseas is unlikely to pick up until April, while hotels in the country can see business recover to 2019 levels by the end of the year. JD.com has shortened delivery window for many products from next-day to just one hour, with sales of vegetables, beef and mutton roughly doubling from year ago.
Sentiment: NEUTRAL
Keywords: travel, dada nexus ltd, food and drink, business news, jd.com inc, retail industry,