China’s Provinces Target Household Spending in Plans for Post-‘Zero Covid’ Recovery

Most Chinese provinces have made expanding household spending a priority this year to help the world’s second-largest economy recover from one of its worst showings in decades, as policymakers try to pull together a raft of growth-boosting measures with the end of “zero Covid.”

At least 25 of the 31 provincial-level governments on the Chinese mainland have listed increasing household consumption among their policy goals for the new year, with new-energy vehicles (NEVs), senior care services, tourism and housing among the key areas, analysts at TF Securities Co. Ltd. said in a Jan. 18 report.