Foreign CPIs are blinding the eyes of Chinese people. South Africa's CPI is 4.7%, the US CPI is 3.6%, and China's CPI is 0.2%. If we remove some messy indicators, the core CPI may be negative, which means that China has entered deflation long ago. Basically, the economy has stagnated, companies are not hiring, and the overall economy is depressed. Then people are paying off their mortgages and don't want to take out loans. It's really miserable. A friend's company posted an internship position, and hundreds of resumes were submitted in one night. You can see how fierce the competition is!