In a bold move to spark economic growth, China has unveiled a 30-policy plan designed to boost consumer spending and stabilize key markets. As the country continues to lead as the world’s second-largest consumer and the biggest e-commerce hub for over a decade, these new measures aim to fortify domestic demand.
Recent data show that retail sales climbed 4% year on year in the first two months of 2025 — a modest rise from last year. However, with consumer confidence still lagging, Li Chunlin, deputy director of the National Development and Reform Commission, stressed that lifting household incomes and easing financial burdens remain top priorities.
The comprehensive plan is divided into eight sections. The first seven outline actions focused on the demand side, including income enhancements for urban and rural residents and increasing consumption capacities. On the supply side, there is a pivot toward improving service quality, upgrading bulk consumption, and raising consumption standards. Notably, this is the first time the consumption support plan highlights the need to stabilize both the stock market and the real estate sector.
Beyond economic metrics, the plan ties consumer spending to broader social goals such as better elderly care, expanded child care support, and stronger protection for workers through guaranteed paid annual leave and limits on excessive work hours. These initiatives not only promise to stimulate the economy but also aim to improve overall quality of life 🚀.
Additional measures include a significant financial boost — with ultra-long special treasury bonds worth 300 billion yuan set to fund trade-in programs, doubling last year’s allocation. This ambitious strategy reflects China’s integrated approach, linking consumer demand with market stability and social well-being.
Reference(s):
cgtn.com
