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China’s service sector looks to shine during ‘golden week’ as Beijing eyes stronger domestic spending

Summary:
[unable to retrieve full-text content]Pent-up demand for services – from travel to entertainment to eating out – could drive Chinese spending during the “golden week” national holiday period that starts on Thursday, but a short-term boost is unlikely to help the domestic service sector fully recover this year from the damage caused by the coronavirus.And much of that increased spending may come from affluent Chinese, with the middle- and lower-class expected to be more conservative with their money as the nation’s wealth gap has…

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[unable to retrieve full-text content]
Pent-up demand for services – from travel to entertainment to eating out – could drive Chinese spending during the “golden week” national holiday period that starts on Thursday, but a short-term boost is unlikely to help the domestic service sector fully recover this year from the damage caused by the coronavirus.And much of that increased spending may come from affluent Chinese, with the middle- and lower-class expected to be more conservative with their money as the nation’s wealth gap has…

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