China has announced measures to stimulate consumption ahead of the Spring Festival
The Chinese State Development and Reform Commission announced measures to stimulate consumption on the eve of the Spring Holiday during the strict control of kovida-19, the Chinese Media Group (CMG) announced.
The measures will meet the growing demand of the population for consumption, release the potential of consumers and contribute to a stable start of economic growth in the first quarter, the Commission for Development and Reform announced.”Various measures should be taken to meet the demand of the residents, to provide daily necessities, to provide more contactless services, as well as to provide assistance to the elderly residents in transportation, in order to reunite with their families,” the statement said.

The Communication on Measures also applies to policies to increase online festival spending and to expand spending in rural areas.

It was pointed out that it is necessary to stimulate spending related to winter sports, culture and entertainment, as well as to support the “smart” retail sector.

The chief economist of the Chinese Hang Seng Bank, Wang Dans, believes that consumption is the “biggest bottleneck” this year.

She expressed concern that spending would be difficult to recover, especially in small towns.

“The most direct way to restore consumption is to subsidize consumers,” Wang said.

The Development and Reform Commission announced yesterday that it would support the healthy development of the real estate market and the legal demand of apartment buyers, and also demanded that local governments strengthen control over unfair competition and other monopolistic behavior during the holidays.

In 2022, China will stimulate market vitality through microeconomic policies, deepen structural supply reforms, as well as pay more attention to the circulation of the national economy, it was said at the Central Conference on Economic Affairs in December 2021.

By Editor

Leave a Reply