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Thematic (Sector/Industry)

China Consumer discretionary / Thematic (Sector/Industry)

<ul><li>Consumption in China is expected to grow 6% to 7% in 2023 from the previous year on the back of reviving confidence and the release of pent-up demand after three years of stringent Covid restrictions</li><li>For the first time since the pandemic hit, China’s consumption growth this year will outpace the country’s economic expansion, which is projected at around 5%</li><li>The growing demand partly reflects Chinese households’ rising deposits during the pandemic, when restrictive measures reined in spending</li></ul>

Consumption in China is expected to grow 6% to 7% in 2023 from the previous year on the back of reviving confidence and the release of pent-up demand after three years of stringent Covid restrictionsFor the first time since the pandemic hit, China’s consumption growth this year will outpace the country’s economic expansion, which is projected at around 5%The growing demand partly reflects Chinese households’ rising deposits during the pandemic, when restrictive measures reined in spending

Chinese Consumers Are Set to Power the Recovery, UBS Says