Covid-19 hit Chinese economy on a slow path to recovery, says UBS

With 94 per cent of respondents having resumed work as of late-May, consumers' near term expectations notably improved, the UBS' survey findings suggest

At a time when the two biggest nations across the globe – the United States (US) and India – are engaged in a bitter battle with China over trade and geopolitical issues, the Asian country may well be on a slow path to economic recovery after being hit with Covid-19 pandemic. A recent report by UBS suggests China, which was the first country to suffer the pandemic but also the first to relax mobility restrictions, could see a rise in consumption over the next few months. The recovery, however, will be slow with consumption rebounding strongly from the March 2020