China’s middle class, key to Beijing’s economic recovery plan, put spending on hold over wealth, income concerns

by Mia Nulimaimaiti at China’s middle class continued to struggle in 2023 amid the ongoing property crisis and stock market slump, with rising household debt, lower self-indulgent spending and concerns over the future, according to a widely used measure of the key group. A survey of household wealth and income from the Southwestern University […]