25 April 2025 China Consumer China Consumer Pulse 1Q25: Balancing Stimulus Support and Tariff Pressures in a Fragile Recovery Melinda Hu +852 2123 2643 melinda.hu@bernsteinsg.com Callum Elliott, CFA, ACA +44 207 676 7183 callum.elliott@bernsteinsg.com Eunice Lee, CFA +852 2123 2606 eunice.lee@bernsteinsg.com Aneesha Sherman +1 917 344 8457 aneesha.sherman@bernsteinsg.com Euan McLeish +81 3 5962 9611 euan.mcleish@bernsteinsg.com Richard J. Clarke, FCA +44 207 676 6850 richard.clarke@bernsteinsg.com Ran Yang ...