News analysis

Chinese need to spend to spur economic growth, but job woes and business fears give them pause

China has been able to stick to its aim of keeping the surveyed urban unemployment rate at 5.5 per cent for December 2022. PHOTO: REUTERS
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BEIJING - Getting the Chinese to loosen their purse strings will be China’s top priority in 2023, as the world’s second-largest economy guns for a solid economic recovery.

And there is plenty to spend. After three years stuck at home, the Chinese have amassed a huge pool of savings.

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