BEIJING -- The novel coronavirus outbreak has exacted a heavy toll on consumer spending in China, with smartphone and auto sales falling precipitously and travel and other leisure activities coming to a standstill.
China's National Health Commission said Thursday that the peak of the domestic COVID-19 outbreak was over, and some retailers and restaurants have resumed business. But containment efforts, including the extension of the Lunar New Year holiday and restrictions on people's movement, came with a great economic cost.
