STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Liangping Gao and Marius Zaharia
Now, many more shoppers who can afford to spend more have joined the bargain-hunters, underscoring the weakness in household demand which has emerged as a key drag on the world's second-largest economy. Consumer prices rose just 0.1% year-on-year in August, in sharp contrast with the surging inflation most other major economies have seen since the COVID-19 pandemic ended.
Luxury executives have been banking on China to help boost overall sales in 2023, but the new-found thriftiness of the middle class, which companies from LVMH to Gucci-owner Kering have courted for years, could pose a problem.
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो: