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China names ‘hotspot’ sectors in 19-point plan to spur consumption (www.scmp.com)

submitted 2 months ago by rss@news.abolish.capital to c/china@news.abolish.capital

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China has launched a 19-point plan to better align the supply of consumer goods with demand, as Beijing steps up its efforts to rebalance its economy towards a consumption-driven growth model. A document outlining the plan issued by the Ministry of Industry and Information Technology and five other departments on Wednesday laid out goals that included the cultivation of three “trillion-yuan-level consumption sectors” and 10 “hundred-billion-yuan-level consumption hotspots” by 2027. The...

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