ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Coronavirus

China counts economic losses as dust begins to settle on outbreak

Consumer spending plummets, but signs of recovery as Uniqlo reopens stores

China's National Health Commission said Thursday the peak of the domestic COVID-19 outbreak was over.   © Reuters

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more