Beijing (dpa) – A report issued by the Chinese General Chamber of Commerce expects that consumption in China will witness a rapid recovery this year, against the backdrop of a strong economy and measures encouraging consumption, according to the Chinese newspaper “China Daily” on Sunday.
The report added that the growth of retail sales of consumer goods in the country is likely to exceed 10% this year.
Retail sales of Chinese consumer goods, which were one of the most affected by the pandemic, decreased by 93.9% in 2020.
The main measure of consumption has gradually increased in recent months, by 4.6% in the fourth quarter of last year, close to pre-pandemic levels in the sector.
The report added that while the Chinese economy continues to grow in 2021 and implement policies to boost consumption, the index is growing at a rapid pace.