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China’s big consumer market isn’t rebounding to pre-pandemic levels just yet


Tourists visit ice sculptures in Harbin, Heilongjiang province on New Year’s Day 2023.China News Service | VCG | Getty ImagesBEIJING — It’s going to take time for Chinese consumers to really start spending again, despite China’s abrupt shift toward reopening.About a month after Guangzhou city resumed in-store dining, local coffee shop owner Timothy Chong said revenue was recovering — to 50% of normal levels.”In late December, customer flow gradually normalized, with a slight upward trend, but [a recovery in] business volume still needs to wait,” he said in Chinese, translated by CNBC.He expects it will take at least three or four months before revenue can return to normal. For the past six months, revenue had dropped to 30% of typical levels, Chong said. He said Bem Bom Coffee’s first store opened in late 2019, followed by a second store and a coffee academy in August …

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