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☆ Is China's consumption story over? Here's what experts are saying
▼ + stars: | 2024-01-10 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

After a year of uneven and disappointing post-pandemic recovery in 2023, China's consumer sentiment may finally start to improve this year. For an economy that's so heavily reliant on its manufacturing capabilities, market players are now looking toward the services and consumption sectors to propel China's growth in 2024. While a slowdown is somewhat inevitable given China's uneven economic recovery, Goldman Sachs expects services consumption to show more resilience than goods. The bounce in consumer activity, according to Goldman Sachs, will be led by leisure-related activities that include chain hotel operators, online travel agents and Macao casinos. Online gaming companies including FTG and NetEase , food delivery giant Meituan and tech giant Tencent , are also expected to get a boost.

Persons: Goldman Sachs, Goldman Organizations: Stocks, Galaxy, Spring Airlines Locations: Beijing, China, Macao, U.S

[1/3] An applicant is measured for height during a recruiting session for cabin crew jobs at Hainan Airlines in Beijing, China, March 30, 2023. Carriers including Xiamen Airlines, China Southern Airlines (600029.SS) and Spring Airlines (601021.SS) are now on a hiring spree as domestic travel recovers and they plan to resume flights to popular international destinations. China Southern, which plans to hire 3,000 cabin crew this year, said it already had more than seven times as many applicants by the end of December. Before the pandemic, around 10% of cabin crew applications were typically successful, industry experts said. As the peak summer season approaches, Chinese airlines are adding international capacity.

☆ China's stocks, yuan tumble as COVID protests rattle nerves
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +4 min

A U.S. crackdown on Chinese tech giants citing national security concerns also weighed on shares of technology firms. Nevertheless, the social unrest and rising coronavirus cases had fuelled expectations of an earlier end to China's zero-COVID policy, putting a floor under stocks and boosting tourism and consumer shares. "The market does not like uncertainties that are difficult to price and the China protests clearly fall into this category. While state media has not reported the protests, photos and videos of the protests circulated on social media. "The demonstrations ... mean the current COVID policy mix is no longer politically sustainable.

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