Chinese President Xi Jinping’s commitment to the “dynamic zero-COVID” policy means luxury demand will continue to be impacted by disruptions in the next few quarters.
demand over the coming months, the Barclays report said that “some signs of normalization are more likely to appear by March 2023 after the second Congress of the Party.”
On the economic front, Xi stressed that “development is a top priority” for the country. Xi reiterated‘s ambitious plan to become a “medium-sized developed country” by 2035, which means doubling the size of its economy from its 2020 levels.
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