Beijing’s plan to avoid rich Chinese spend their wealth abroad

Beijing's plan to avoid rich Chinese spend their wealth abroad

Beijing plans on creating a huge duty free zone of more than 33,000 square kilometers off its coast, to stop the hemorrhaging of consumption in other countries. Since the beginning of 2023, that is, since the end of pandemic-related restrictions, the Chinese have resumed traveling and, therefore, shopping abroad. In recent months, aided by the…

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