At the explanatory press conference the following day, government officials highlighted various measures to boost consumption. These included detailed policies on childbirth subsidies to be announced soon, salary-related policies, unemployment subsidies by the central government totalling RMB66.7 billion ($12.3 billion) this year, the allocation of funding by the central government to boost domestic travel and related consumption in China and various measures to boost services consumption.
To get back its economic swagger, China is boosting domestic consumption. But will its people regain the confidence to start spending?
In the age of Trump, a new China is emerging. The Chinese government is pulling out all the stops to boost consumer spending. Specifically, the Chinese government issued a special action plan to boost consumption on March 16.
