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Financial decision-maker sentiment: China

An ongoing look at how the attitudes of financial decision makers in China are evolving during the COVID-19 pandemic.

Half of Chinese financial decision makers expect the economy to be stronger in three months. Despite that, 60 percent of consumers are still concerned or somewhat concerned about their job security and half have indicated decreased income. Consumers are relatively net neutral on their feelings toward bank performance and would like them to improve their websites to allow for more seamless online transactions. Electronic payments, such as Alipay, have seen increased usage over the past month, while cash usage has decreased. Overall, there is confidence in a quick recovery with only 2% believing COVID-19 will have a long lasting impact on the economy.

About the author(s)

John Euart is an associate in McKinsey’s New York office, David Hutchinson is a specialist in the New Jersey office and Nicole Zhou is a partner in the Shenzen office.

The authors would like to thank Harshit Gupta for his contributions to this article.

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