Chinese companies such as Alibaba and JD.com have reported an increase in consumer spending, with faster year-on-year revenue growth in the last quarter of 2024 compared to 2023. However, consumption levels have not yet fully returned to pre-pandemic levels, with consumer confidence still needing to improve for double-digit revenue growth. Chinese policymakers are prioritizing boosting consumption, introducing subsidies for smartphones and signaling a shift in real estate policy to support market stability.
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