Free Trial

MNI POLICY: China to Boost Digital Spending to Aid Recovery

MNI (Sydney)

China will support the development of new digital business models to drive consumption and spur economic growth, the State Council said following its weekly executive meeting on Wednesday night.

China will encourage innovating contactless consumption such as online open courses and Internet diagnosis in the health sector, as well as promoting online and offline integration of fitness and tourism, according to a government statement.

China will introduce new taxes to support new consumption models and urge financial institutions to cut mobile payment costs.

China will also speed up the construction of high-tech infrastructure to ensure 5G networks and Internet of Things applications initially cover core business districts, industrial parks and transportation hubs, the government said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
True
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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.