“Overall, today’s data shows that industrial enterprises, especially private and equity-owned enterprises, continue to be affected by a combination of unfavourable factors such as the base effect, short-term pressure on the economic recovery and the downward trend of PPI (producer prices),” said Bruce Pang, chief economist at Jones Lang Lasalle.
Many of China’s young are unemployed - like many other countries the ‘freebies’ provided by the government put people off work:
Youth unemployment in China hit nearly 20% last year as lockdowns took their toll. Many young people are rejecting a return to the daily grind, while those seeking security in the public sector have hit a dead end.