China Unveils New Plan to Boost Household Consumption Amid Slow Economic Growth

What’s new: China released a plan to boost household spending on everything from furniture to smart home tech as the economy grew slower than expected in the second quarter.

Thirteen government departments unveiled 11 joint measures that aim to unleash the potential of household consumption by improving the standards of products, how goods are sold, and making more favorable purchasing environments for consumers, according to the statement issued on the Ministry of Commerce website.