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Chinese consumers tighten purse strings as post-pandemic recovery slows
LanguageEnglish
Transcript/ScriptRIGHTS and RESTRICTIONS: Broadcast: None. Digital: None.. For Reuters customers only.
ORIGINAL TEXT PROVIDER: Reuters
ALTERNATE TEXT PROVIDER INFO: Reuters, AUG 10
ORIGINAL VIDEO PROVIDER: Reuters
ORIGINAL VIDEO SOURCE: REUTERS
BY: REUTERS, AUG 10
ORIGINAL VIDEO DESCRIPTION: NATURAL WITH MANDARIN SPEECH
INTRO TEXT: Chinese consumers tighten purse strings as post-pandemic recovery slows
ADDITIONAL INFO:
=====SCRIPT BODY TEXT=====
VIDEO SHOWS: BEIJING RESIDENTS SHOPPING FOR GROCERIES AT THE WET MARKET / PRICE TAGS FOR VEGETABLES AND MEET / SOUNDBITE FROM BEIJING RESIDENT AND VEGETABLE STALL OWNERS
SHOWS: BEIJING, CHINA (AUGUST 10, 2023) (REUTERS - Access all)
1. VEGETABLE STALLS AT WET MARKET
2. VEGETABLES ON DISPLAY AT STALLS
3. 50-YEAR-OLD VEGETABLE STALL OWNER, LIU (ONLY SURNAME GIVEN), WORKING AT HER STALL
4. PRICE TAGS FOR VEGETABLES: “2 YUAN (0.28 USD) PER HALF KILOGRAM, 3 YUAN (0.42 USD) PER KILOGRAM”
5. VARIOUS OF RESIDENTS SHOPPING FOR GROCERIES
6. (SOUNDBITE) (Mandarin) 50-YEAR-OLD VEGETABLE STALL OWNER, LIU, SAYING:
"It's already cheap, a bit cheaper now. We sell things much cheaper here. Look, this is selling for 5 yuan (0.69 USD) per 0.5 kilograms, 2.5 yuan (0.35 USD) per 0.25 kilograms, right? It's not expensive either. Selling price is a little over 2 yuan."
7. RESIDENTS SHOPPING FOR GROCERIES
8. VEGETABLES / HANDS PICKING UP VEGETABLES
9. VARIOUS OF VEGETABLE SELLER WORKING
10. VEGETABLES IN PLASTIC BAG AND ON DISPLAY
11. VARIOUS OF RESIDENTS SHOPPING AT PORK STALL
12. PORK PRICE TAGS
13. (SOUNDBITE) (Mandarin) 33-YEAR-OLD BEIJING RESIDENT, DONG (ONLY SURNAME GIVEN), SAYING:
"In the current situation, when it comes to spending, it's a bit more prudent to save a bit if possible. Especially for young people like us who have mortgages and need to raise children, it's necessary to be somewhat cautious."
14. CABBAGES ON DISPLAY AT WET MARKET
15. RESIDENTS SHOPPING
16. VARIOUS OF RESIDENTS SHOPPING AT PEACH STALL
17. WEIGHING SCALE INDICATING WEIGHT AND PRICE
18. VARIOUS OF WATERMELON STALL AT WET MARKET
19. WEIGHING SCALE INDICATING WEIGHT AND PRICE
STORY: Chinese consumers on Thursday (August 10) expressed a need to tighten their purse strings as the pace of post-pandemic economic recovery slows in the country.
One of them is restaurant worker Dong, who only gave his last name for privacy reasons, as he visited a wet market in central Beijing during lunch hour on Thursday but did not buy anything, stating a need to spend cautiously due to mortgages and costs of raising children.
China's post-pandemic recovery has slowed after a brisk start in the first quarter as demand at home and abroad weakened and a flurry of policies to support the economy failed to shore up activity.
The consumer price index (CPI) dropped 0.3% year-on-year in July, the National Bureau of Statistics (NBS) said on Wednesday (August 9), compared with the median estimate for a 0.4% decrease in a Reuters poll. It was the first decline since February 2021.
(Production: Wang Shubing, Joyce Zhou)
NewsML Media TopicsArts, Culture, Entertainment and Media
RightsBroadcast: None. Digital: None.. For Reuters customers only.
