China’s consumer confidence returning to normal

The rise in consumption was also driven by a series of favorable policies at the national and local levels.

BEIJING: China’s consumption is gradually returning to normal levels with the restoration of consumer confidence, as policies further heightened market expectations for a rebound in consumption.

The interbank transaction volume of UnionPay cards reached 359.2bil yuan (US$55.6bil) on the New Year’s Day, roughly the same as a year earlier, according to data released by China UnionPay, a national bank card association.