Reported about 1 year ago
Li Yumeng, a BBC Chinese correspondent, discusses the challenges faced by individuals like Sun Junli, who saw her successful coffee business suffer during the COVID-19 pandemic, leading to financial struggles and changes in spending habits. The article highlights how the economic environment in China has not improved as expected post-pandemic, with topics such as 'consumption downgrade' and 'middle-class return to poverty' dominating online discussions. Data from China's Ministry of Finance shows a decrease in personal income tax, reflecting the economic slowdown. Various individuals, including educators and entrepreneurs, have experienced financial setbacks and adjustments in their consumption patterns in response to economic pressures.
Source: YAHOO