News Article

The enthusiasm of Chinese consumers was again visible during the June 18 shopping carnival, and this has played a critical role in promoting the recovery of consumption and shoring up the economy despite pressure from a resurgence in domestic COVID-19 cases and an uncertain external environment, industry experts said.

China's weeks-long mid-year online shopping event got off to a steady start amid business resumption and pro-growth policy incentives, which analysts believe can help boost consumption as COVID-19 impacts wear thin.

As consumers increasingly embrace online shopping and get to know about online group-buying, such products are no longer solely low-priced goods but now include higher-value products.

Chinese consumers have accelerated their shift toward online shopping because of measures to curb the spread of COVID-19 and fears of infection, according to a report by Fitch Ratings.

Other industries such as online teaching are also seeing users surge as schools across China are required to delay the opening of the spring semester.