Free Trial

MNI BRIEF: More Migrant Worker Services To Grow China's Demand

MNI (Singapore)
(MNI) Beijing

China should alleviate the shortage of basic public services to unleash potential demand, particularly equalising services for nearly 300 million migrant workers, Liu Shijin, a member of monetary policy committee of People’s Bank of China, told MNI on the sidelines of the China Development Forum 2023 on Saturday.

The key to expanding domestic demand is to meet consumption demand in sectors including health care, education, and social security, he said. Raising total factor productivity was crucial to China’s economic recovery, he said.

Liu told the forum that China is pursuing lower carbon emissions while achieving economic growth, arguing innovation is a priority. Markets that benefit green innovation and the transition towards green products is necessary, while tax reductions targeting new energy sector should also be implemented, he suggested.

True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.