China Launches Comprehensive Plan to Revitalize Domestic Consumption
The 30-point action plan aims to boost household income, stabilize key markets, and counter deflationary pressures in the world's second-largest economy.
- China's government unveiled a 30-point action plan to stimulate domestic consumption, focusing on increasing household income and reducing financial burdens.
- Measures include raising minimum wages, enhancing paid leave enforcement, and introducing subsidies such as childcare support to encourage spending.
- The plan outlines efforts to stabilize the stock and property markets, with a goal to reverse the property market's decline and improve investor confidence.
- Authorities also aim to promote tourism by expanding visa-free travel arrangements and supporting winter tourism in ice and snow regions.
- The initiative follows mounting pressure to address weak consumer demand, deflationary trends, and reliance on exports, with leaders pledging fiscal and credit support to implement these measures.
South China Morning Post 
CNBC 
CNN 
