This Sunday, China unveiled a comprehensive action plan with eight major sections aimed at giving domestic consumption a powerful boost. The plan is dynamic and addresses both the demand and supply sides of the economy. On the demand side, it focuses on increasing urban and rural incomes and launching supportive measures to enhance consumer spending power. 🚀
On the supply side, the strategy emphasizes improving the quality of service consumption, upgrading big-ticket products, and streamlining policies to create a more favorable consumption environment. Governments are urged to cut red tape and foster a setting where every purchase feels safer and more rewarding—like getting the latest upgrade on your favorite app!
Adding an expert touch, Qu Qiang, a fellow at the Belt and Road Research Center of Minzu University of China, expects these fresh initiatives to drive a noticeable pickup in domestic consumption by the later part of 2025. This bold move is set to refresh the economic landscape, sparking interest not only among investors and professionals but also captivating the curiosity of young news enthusiasts and global explorers alike. 📈
Reference(s):
cgtn.com
