Business execs take dim view of China's economic recovery
China has not fully recovered from the shock of the coronavirus pandemic, business leaders said in a survey by the China Beige Book released Tuesday, CNBC reports.
After about a year since a new coronavirus first emerged in the central city of Wuhan in Hubei province last December, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, profitability and hiring to return to 2019 levels until at least three months from now.
Richer households might be boosting overall consumption by spending on big-ticket items.
Chain restaurants didn’t see as much growth, while travel saw no growth and hospitality recorded the weakest revenues.
Source: The Standard
https://www.thestandard.com.hk/breaking ... c-recovery