Confidence is inching back into consumers in China, as the retail sales of consumer goods indicated a 5.4 percent increase year on year in August presented by the National Bureau of Statistics.
According to the statutory body, the growth quickened from a 2.7 percent increase registered in July. The country’s retail sales of consumer goods totaled 3.63 trillion yuan (about 523.2 billion U.S. dollars) in August.
In the first eight months, China’s total retail sales of consumer goods stood at 28.26 trillion yuan, up 0.5 percent year on year.
The Chinese are adapting to a new world in the country where lockdowns, testing, and work from home are becoming a norm and everyone is getting used to it. Dissent has been extremely quiet despite the rest of the world opening up and returning to life before the ravages of the pandemic.
Offices and factory given exceptions when it comes to outbreaks, while previously the cities will be shut down and mass testing conducted, lately, Beijing has given permission to the productivity-related sectors to operate albeit with a cautious stance.
