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Why is China spending billions to get people to open their wallets?

BBC Business LogoBBC Business1d ago

Why is China spending billions to get people to open their wallets? - BBC Business

Quick Summary:

Beijing hopes better wages and discounts can enocurage spending and stave off greater economic trouble.

Caiyun Wang, a National People's Congress representative, said, "With a population of 1.4 billion, even a 1% rise in demand creates a market of 14 million people.

A 2024 study by Chinese think tank YuWa estimated that raising a child to adulthood in China costs 6.8 times the country's GDP per capita - among the highest in the world, compared to the US (4.1), Japan (4.3) and Germany (3.6).


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Article Details

Category: Business

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 00:00:40 (1 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 1608 words

Reading Time: 9 minutes read

Sentences: 70 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 27125507

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About BBC Business

BBC Business Logo

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 7 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #43

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