MNI China Daily Summary: Tuesday, Aug 20

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Local Govts Try to Spur  Consumption despite Weak Prospect: Times

CHINA PRESS
MNI (Singapore)

Local governments in China are trying to raise consumption by promoting purchases of new energy vehicles and smart home appliance sales in the countryside, the Securities Times reported. Most local governments showed cautious expectations towards consumer spending by maintaining or even lowering annual targets of retail sales growth from last year given to severe employment situation, high inflation pressure and insufficient consumer confidence amid epidemic uncertainty and income pressure, the newspaper said.

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