China s midyear shopping festival, 618, is seeing lower consumer spending as customers face stagnant incomes and a tepid economy due to years of COVID restrictions. The household finances of many families have been hit hard, increasing their financial pressure and making them unwilling to spend. Most online platforms are not expected to disclose their gross merchandise value, indicating weaker consumption in today s Chinese economy.
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Two Mandarin ducks, a bouquet of narcissus and a few stalks of bamboo were represented in a birthday gift painting from ancient China hundreds of years ago.