The plan was to vigorously boost consumption, expand domestic demand, and «enhance consumption capacity by increasing income and reducing burdens.»
China announced a «Special Action Plan to Boost Consumption» on Sunday in a bid to prop up domestic consumption in the world’s second largest economy.
The General Office of the Central Committee, an office directly under China’s ruling party, said the plan was to vigorously boost consumption, expand domestic demand, and «enhance consumption capacity by increasing income and reducing burdens», according to a Google translation of the report.
The wide-ranging release also outlined other steps, such as taking «multiple measures» to stabilize the stock market and developing more bond products suitable for individual investors.
