China to see consumption back to pre-pandemic levels in 2023

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One can expect consumption in China to return to pre-COVID-19 levels next year, Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Bank, tells CGTN. And such an expectation is fully justified, he says, as consumption contributed over 65% of the GDP growth in the year of 2021, when the economy rebounded quickly from the shock from the pandemic the previous year.