But on the ground, business owners, office workers and migrant laborers are tightening their belts, worried about job security and future income. Many say they’re holding off on non-essential purchases and saving more for what they fear could be harder times ahead.
China is counting on its 1.4 billion consumers to help cushion the blow from Donald Trump’s tariffs. But that strategy is running into a wall of uncertainty, with millions of factory jobs at risk.
Beijing has made expanding consumption a key pillar of its policy agenda this year, rolling out a 30-point action plan that includes subsidies for home goods, financial aid for childcare and improved access to paid leave.
