Experts Push for More Fiscal Spending to Boost China’s Weak Domestic Demand

Two Chinese economists have called on the central government to provide greater policy support to boost consumer confidence and purchasing power, while also increasing leverage to repair the balance sheets of local governments and businesses.

Yu Yongding, a member of the Chinese Academy of Social Sciences, and Huang Yiping, dean of the National School of Development at Peking University made the remarks during a dialogue on China’s economic challenges and potential solutions at the Caixin Summer Summit in Hangzhou on Wednesday.