Published: February 14th, 2024,
Last updated: February 14th, 2024
Like us in the West, the Chinese set out in the new lunar year with new hopes and resolutions. However, the new Dragon Year does not bode well for people’s wallets. The tense economic situation increasingly weighs the income of the middle class. In 38 major cities, average incomes fell in the fourth quarter of 2023 compared to the year before. But it is the middle class in particular that has high expectations of economic progress, as Joern Petring analyzes.