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China consumer insecurity to carry on in 2024 – UBS

Falling home prices and fears about job prospects will deter Chinese consumers from freely spending on goods such as clothes and home appliances, weighing on the nation’s retail sales growth, according to UBS, reports the South China Morning Post. Retail sales are expected to climb 5.5% in 2024, one percentage point lower than the estimated 6.5% rise… ....

Christine Peng , South China Morning Post , China Morning ,

Pinduoduo transaction revenue surges 315% as Chinese consumers hunt for bargains

Pinduoduo on Tuesday posted more than 90% growth in third-quarter revenue, outpacing that of Alibaba, as consumers increasingly look for bargains. ....

New York , United States , New Zealand , Shao Hui Chen , Christine Peng , Hong Kong Listed , Hang Seng Index , Phui Chen , Greater China ,