Chinese consumers are increasingly worrying about their incomes, raising questions over their willingness to raise spending at a crucial time in China’s rebalancing.
While Beijing is pushing the narrative that discretionary spending can compensate for a faltering industrial sector, consumer surveys are telling a very different story.
A survey of 20,000 bank depositors in the fourth quarter of 2015 by the People’s Bank of China showed that consumers are the least positive about their current salary since the survey series began in 2001.
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