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