China: Post-COVID Food and Agricultural Situation
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As the PRC dismantles it’s zero-COVID policy measures, there is great optimism about the economy and, particularly, the HRI sector. Stakeholders expect a rebound in travel to fuel recovery in hotels, restaurants, and other outlets. PRC agricultural production, processing, and transportation logistics were resilient during the pandemic, but full economic recovery will be slowed by structural headwinds and cautious consumers. PRC food and agricultural imports – critical to the food security balance sheet – remain strong and are expected to grow faster than the rate of GDP. The PRC remains the United States’ largest food and agricultural product export market with sales reaching a record $41 billion in 2022.