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CHINA PRESS: China Should Boost Consumption - Advisors

CHINA PRESS
EM BulletAPACChinaEmerging Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

China should take all necessary measures to boost consumption next year including increasing financing support for the real economy and implementing fiscal subsidies and tax incentives, Yicai.com reported, citing Wang Zhongmin, former vice chairman at National Council for Social Security Fund. Authorities should prioritise consumption over investment by allocating additional funds to promote consumer spending, said Yang Weimin, deputy director of the Economic Affairs Committee of the 13th CPPCC National Committee, adding that it is also necessary to substantially boost income of low-income groups and increase policy support for consumer-related industries.

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China should take all necessary measures to boost consumption next year including increasing financing support for the real economy and implementing fiscal subsidies and tax incentives, Yicai.com reported, citing Wang Zhongmin, former vice chairman at National Council for Social Security Fund. Authorities should prioritise consumption over investment by allocating additional funds to promote consumer spending, said Yang Weimin, deputy director of the Economic Affairs Committee of the 13th CPPCC National Committee, adding that it is also necessary to substantially boost income of low-income groups and increase policy support for consumer-related industries.