Deterioration of Public Consumption Will Affect China's Economic Growth
ANBOUND
Chinese consumers become more prudent when it comes to spending. Recent study shows that only 27% people in China plan to increase random spending compared to 38% last year. Six out of ten respondents prepare to save more money and 29% of the respondents anticipated reduction of future income. Anbound warns that the deterioration of public consumption is noteworthy; the government needs to assist the public to increase their incomes besides considering measures that encourage the public to spend and spend at ease.