HONG KONG -- Chinese consumer confidence won't make a full recovery easily, despite Beijing's stimulus measures and a resumption of production that was stalled by COVID, the chief executive of major domestic e-commerce operator JD.com warned Thursday.
Xu Lei told analysts in an earnings call that "it will take a relatively long time for [the stimulus measures] to pass on to residents' income." The CEO's comments came as JD.com makes a strategic shift to low-price competition with rivals.
