Aug 05, 2024 02:37 PM
ECONOMY
China Rolls Out Action Plan on Boosting Domestic Consumption
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The country’s economic growth unexpectedly slowed to the worst pace in five quarters in data released in July, as consumer spending faltered. Photo: Bloomberg
(Bloomberg) — China’s government on Saturday laid out its priorities to spur consumer spending as weak domestic demand continues to weigh on growth.
The State Council, China’s cabinet, designated 20 key steps, including exploring the potential to expand basic consumption in areas such as catering, home services and elder care, according to a statement posted on the central government’s website.
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