Demand Boost Key To 2023 Rebound - Zhu Min

China’s economic rebound next year depends on a recovery in aggregate demand, according to Zhu Min, former Deputy Managing Director at the International Monetary Fund. Zhu said policy should focus on restoring household consumption on second homes, vehicles, and elderly care services. Income subsidies and consumption coupons should be issued to specific resident groups as a way to expand demand, he said. Market access should be expanded to attract foreign direct investment, and China’s core-competitiveness in manufacturing should be maintained to support exports. He said the government should coordinate R&D, procurement and financing to support large scale low carbon investment. Zhu’s comments were reported in the Securities Times.