Consumer spending on recovery track

Spending power: A man is seen shopping for traditional lanterns ahead of the new year in Shenyang. China’s retail sales of consumer goods, a vital consumption indicator, rose 12.5% year-on-year in 2021. — AFP

BEIJING: Consumption, a key driver of the Chinese economy, is expected to see recovery growth this year as more supportive policies are in the pipeline, said the country’s economic planner.

China’s retail sales of consumer goods, a vital consumption indicator, rose 12.5% year-on-year (y-o-y) in 2021, putting the average annual growth for the past two years at 3.9%.