The coming week’s retail sales data are likely to signal that consumer spending, the part of China’s post-lockdown recovery that has lagged the most, is back to health. China is a rare example of a country that wouldn’t see major economic benefits, at least initially, from an effective coronavirus vaccine. Meanwhile, the past week has brought further evidence of campaigns to rein in China’s tech giants and to constrain the autonomy that underpins Hong Kong’s success as an international financial centre.
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