Less noodles, beer and movies? Tough times for Chinese consumption story

Official numbers may suggest a rosier 2017 for China, but the bottom lines of the country's top consumer firms — from brewers to noodle makers and cinema chains — paint a patchy picture of spending in the world's second-largest economy. Tsingtao Brewery Co Ltd, China's number two brewer, posted its steepest drop in net profit in 20 years last week, blaming tough competition and weak demand.

Noodle maker Tingyi saw profits drop by a third. China's top cinema operator Wanda Cinema Line saw 2016 profits.

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