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

China's 'zero COVID' ambitions hamper economic recovery

Real consumption gains slow in October amid widespread pandemic curbs

Security personnel guard a residential compound in Beijing under lockdown over an outbreak of COVID-19. The Chinese capital is taking extensive steps to keep cases under control, especially with the Winter Olympics just months away.   © Reuters

BEIJING -- China's goal of eradicating the coronavirus within its borders is weighing heavily on its economy, as renewed restrictions in response to a surge in infections since October squeeze consumer spending.

China's nominal retail sales of consumer goods climbed 4.9% on the year in October, according to data published Monday by the National Bureau of Statistics. Year-on-year gains rose from 4.4% in September despite market projections for a drop, largely due to increased spending on gasoline and other fuel.

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