China’s State Planner Forecasts Ongoing Consumption Recovery in 2022

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A senior economist with the National Development and Reform Commission (NDRC) has forecast ongoing recovery in China’s consumption levels in 2022, as the global economy continues to convalesce from the impacts of the COVID-19 pandemic.

Guo Liyan (郭丽岩), a researcher with NDRC’s China Macro-economic Research Institute (中国宏观经济研究院), forecasts that in 2022 the COVID-19 pandemic will gradually come under control internationally, while domestic policies and measures in China to drive consumption will come into effect.

“Consumption will maintain its trend of recovery growth,” said Guo to state-owned media. “Ongoing recovery is expected.”

Areas of strong consumption growth in China in 2022 will include the launch of new family planning policies to encourage three-child families, as well as rural village revitalisation plans which will drive consumption in the countryside, and developments in relation to 5G, artificial intelligence and the Internet of Things, which will serve to drive e-commerce.