Meituan and Chow Tai Fook Jewellery Group Ltd. are preparing to announce their earnings reports, which will shed light on the current state of China's consumer market.

The consumer market is facing challenges due to a slow economic recovery, ongoing issues in the property sector, and an unstable employment landscape. These factors have collectively affected consumer sentiment, leading to cautious spending habits.

Despite a notable increase in retail sales, which experienced the fastest growth in eight months in October, consumers remain hesitant to spend. This increase in retail sales has been attributed to recent government initiatives aimed at boosting consumption. However, analysts from Boston Consulting Group suggest that these government measures have not significantly improved consumers' income levels, which contributes to their hesitance in spending.