Author: Wang Xiangwei

Mainlanders are feeling the financial pinch as China lifted zero-Covid restrictions in 2022, leading to economic challenges. With over a million restaurants closing and sluggish retail sales growth, businesses are feeling the heat. Despite record household deposits, worth more than China’s GDP, the lack of consumer confidence and uncertainty in the government’s economic strategy are major concerns. The prevailing sentiment suggests economic gloom, but the issue is not lack of funds but a lack of spending confidence. Uncertainty over China’s economic direction adds to the dilemma, perplexing citizens. In the wake of China’s economic challenges post-zero-Covid restrictions, the financial landscape…