China warns of challenges of stabilizing consumption this year, huge pressure on foreign trade

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China's consumption recovered in 2021, becoming the top engine for the economic growth, but downward pressure has been rising since the fourth quarter of last year, increasing the challenges of stabilizing consumption this year, Wang Wentao, China's Minister of Commerce, said at a press conference on Tuesday.

"Since the fourth quarter of 2021, the downward pressure on China's consumption has been increasing. Retail sales grew by 4.9% on year in October . . .

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