China consumption will return to pre-pandemic level in 2023: Economist

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Consumption in China will return to pre-pandemic level in 2023, according to Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Bank. Such an expectation is fully justified, he says, as consumption contributed over 65 percent of the GDP growth in the 2021, when the economy rebounded from the initial shock of the pandemic.