Hong Kong (Reuters) – The Chinese Council of State unveiled on Sunday a “special action plan” intended to support national consumption, after years of eaten consumer spending.
The plan has been proposed to all regions and districts of the country in order to “support consumption in a vigorous manner, to expand domestic demand in all directions, improve the ability to consume by increasing income and decreasing complications”, summarizes the report published by the State Council.
The announcements are poor in detail on the way in which local governments, responsible for setting them up, will be supported by the State.
Among the measures put forward, the plan proposes to increase the income of urban and rural populations, while a housing reform should make it possible to improve the income of farmers.
Stabilization measures are also envisaged, without a delay or methods of action are detailed.
Public officials will have to “reflect and set up subsidies to nurseries”, offer flexible working conditions and open night pediatric clinics in hospitals. The creation of crèches managed by communities or employers must also be encouraged.
The rights and holidays of employees must be guaranteed and the taking of paid leave and short vacation encouraged. Retirement pensions paid to urban and rural people must also be revised upwards.
Certain proposals relate to the ways of encouraging tourism, in particular by limiting the number of countries for which Chinese travelers must have visas.
These announcements take place while Chinese consumers’ demand has been at half mast for several years, due to the Pandemic of Covid-19 and a prolonged collapse of real estate, pressing the Chinese government to act.
(Farah master and editorial report of Beijing, Corentin Chappron, edited by Sophie Louet)
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