China’s economy is poised for a steady rebound throughout this year, underpinned by consumption-led recovery, a robust foundation laid in the first quarter and the gradual stabilization of the property sector, experts said.
While the broader economy is still facing pressures from still-weak domestic demand and mounting uncertainties both at home and abroad, the country still enjoys favorable conditions and positive factors that will further consolidate the recovery trend, they said.
Gu Yan, director of Research Department I at the Xi Jinping Thought on Economy Study Center, said the “scarring effect” caused by the COVID-19 pandemic is gradually fading, as more Chinese are now willing, and have the potential, to spend more.
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