The frugal trend that began in China during the economic disruption of the pandemic and deepened amid the crisis in the property market is intensifying as Gen Z shuns government calls to spend, spend,

China’s deflationary pressures were most severe in its industrial sector for a second straight year, in a sign of a deep imbalance between supply and demand that’s driving prices lower across the economy and inflaming trade tensions.

Beijing hit its GDP growth target of 5 percent in 2024, according to its statistics bureau—but deflationary pressures remain.

China has reported that its economy expanded at a 5% annual pace in 2024, achieving Beijing’s target of “around 5%” growth helped by strong exports and recent stimulus measures.

China's economy grew 5% last year, matching the government's target, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.

China's low-altitude economy is expected to achieve a market size of approximately 1 trillion yuan ($137 billion) in 2025, the Global Times learned from a press conference on Monday. By 2030, the industry is projected to surpass 3 trillion yuan by 2030,

Analysts say they see signs of malaise in China’s domestic economy, but those problems were offset mainly by robust exports and a $1 trillion trade surplus.

The figures follow trends worldwide, but especially in East Asia, where Japan, South Korea and other nations have seen their birth rates plummet.

A top Civil Affairs Ministry official stressed new reforms must be rolled out over the next decade to be effective.

China's development model is at a crossroads, with a choice between much higher spending on pensions and healthcare or industrial upgrades and urbanization.

However, recent examples of Beijing punishing companies for their ties to Taiwan have made U.S. businesses cautious in their efforts to avoid China in the production of drones, an