Transform Social Welfare To Increase Consumption - Expert

China should use economic policy to improve education, healthcare and social welfare to better people's livelihoods and enhance consumption as a driver of growth, according to Wang Xiaolu, deputy director at the National Economic Research Institute. In an interview with Caixin, Wang said China must change the mindset of “more investment the better” which has led to ineffective investment and excess capacity in various industries. Policymakers should expand the scope of unemployment insurance and rebalance demand towards consumption led growth, which lags other countries. (Source: Caixin)