China Launches Comprehensive Plan to Boost Consumer Spending

The 30-point initiative aims to counter deflation, address economic challenges, and reduce reliance on exports amid rising US tariffs.

China's government unveiled a 30-point 'special action plan' to stimulate domestic consumption, including measures to raise incomes, provide childcare subsidies, and stabilize property and stock markets.
Retail sales grew by 4% year-on-year in January and February, marking a modest improvement but highlighting the need for stronger consumer confidence.
The Chinese economy faces persistent challenges, including a prolonged property market slump, rising unemployment, and deflationary pressure, with February's Consumer Price Index falling below zero for the first time in over a year.
US President Donald Trump's recent tariff increase to 20% on Chinese imports has intensified trade tensions, prompting retaliatory tariffs from Beijing on US agricultural goods.
Analysts view the plan as China's most comprehensive consumption-focused strategy in decades, signaling a shift toward a consumption-driven growth model to reduce dependency on exports.