China urged to think big, go hard on reviving battered consumption

Coco Wen took advantage of China’s consumer subsidies to buy herself a new iPhone for about two thirds of the original price. At the same time, she’s cutting spending on other things.

“I usually celebrate my birthdays with a fancy meal, but this year I skipped that,” said the 31-year-old, who works for a tourism agency that pays her less than before the pandemic as Chinese people cut back on overseas travel.

“Our family’s spending habits have changed to only buying what’s necessary,” said Wen, who now cooks at home instead of dining out.