China tries to revive economy but consumer engine sputters

China tries to revive economy but consumer engine sputters

Factories and shops nationwide shut down starting in late January. Millions of families were told to stay home under unprecedented controls that have been copied by the United States, Europe and India.

AgenciesUpdated: Friday, April 17, 2020, 07:17 AM IST
article-image
Cbina | Xinhua/Wang Jianwei

Beijing: China, where the coronavirus pandemic started in December, is cautiously trying to get back to business, but it's not easy when many millions of workers are wary of spending much or even going out.

Factories and shops nationwide shut down starting in late January. Millions of families were told to stay home under unprecedented controls that have been copied by the United States, Europe and India.

The ruling Communist Party says the outbreak, which killed more than 3,340 people among more than 82,341 confirmed cases as of Thursday, is under control. But the damage to Chinese lives and the economy is lingering.

Truck salesman Zhang Hu is living the dilemma holding back the recovery. The 27-year-old from the central city of Zhengzhou has gone back to work, but with few people looking to buy 20-ton trucks, his income has fallen by half. Like many millions of others, he is pinching pennies.

RECENT STORIES

Union Budget 2026: Experts Call For Growth Push, SME Booster And Infrastructure Focus
Union Budget 2026: Experts Call For Growth Push, SME Booster And Infrastructure Focus
Budget 2026: Sunday Trading Returns After 27 Years As Markets Open For Only 2nd Time
Budget 2026: Sunday Trading Returns After 27 Years As Markets Open For Only 2nd Time
Gold Crashes ₹14,000, Silver Slumps ₹20,000 In A Day As Profit-Taking, Strong Dollar Hit Bullion
Gold Crashes ₹14,000, Silver Slumps ₹20,000 In A Day As Profit-Taking, Strong Dollar Hit Bullion
India’s Hotel Industry Earnings Seen Growing 16–21 Per Cent Through FY28 On Strong Demand:...
India’s Hotel Industry Earnings Seen Growing 16–21 Per Cent Through FY28 On Strong Demand:...
India’s Fiscal Deficit Touches 54.5 Per Cent Of Full-Year Target In April–December Period
India’s Fiscal Deficit Touches 54.5 Per Cent Of Full-Year Target In April–December Period