Economists advocate direct support to consumers
4 months, 1 week ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed to about 60 percent of China's economic growth in the first half of the year — is assuming even more importance for the world's second-largest economy as its exports could face downward risks amid a rise in protectionist trade policies, economists said. Among exports, investment and consumption, the traditional "troika" powering China's economic development, spurring consumption will be the key driving force boosting China's economic growth, said Chen Wenling, chief economist at the China Center for International Economic Exchanges. Li Daokui, director of Tsinghua University's Academic Center for Chinese Economic Practice and Thinking, said it is advisable for the government to issue consumption coupons worth 1 trillion yuan during the weeklong National Day holiday in October this year, which will significantly boost consumer sentiment.

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History of this topic

Targeted measures to boost consumption
4 days, 17 hours ago

Targeted measures to boost consumption

China Daily  

Consumers check out festive products in Nanjing, Jiangsu province, on Friday. LIU JIANHUA/FOR CHINA DAILY China will roll out an array of targeted measures to simultaneously boost consumption and deliver tangible benefits to the people after policymakers signaled a shift in prioritizing the expansion of domestic demand amid external uncertainties during a recent tone-setting meeting, officials and analysts said. "Boosting …

GDP goal for '25 may stay at 5%
5 days, 17 hours ago

GDP goal for '25 may stay at 5%

China Daily  

Luo Zhiheng China's GDP growth target for 2025 could be set at around 5 percent, unchanged from this year, after a top-level meeting outlined more proactive and effective macroeconomic policies for the coming year, to tackle various challenges head-on and push the economy on an upward trajectory, said a senior economist. Luo's comments came after policymakers set next year's agenda …

Govt wealth seen as key to boosting consumption
6 days, 17 hours ago

Govt wealth seen as key to boosting consumption

China Daily  

China's ongoing efforts to boost consumption can be significantly enhanced if the government's substantial wealth and assets are mobilized to support household incomes and social welfare, leading economists said. Liu Shijin, former deputy director of the Development Research Center of the State Council and a prominent economist, said that a relatively high share of State-owned equity in social wealth could …

Steps ready for stable growth of the economy
1 week, 4 days ago

Steps ready for stable growth of the economy

China Daily  

In setting priorities for its economic policy for 2025, China is emphasizing the need to maintain stable growth, employment and commodity prices through steps including higher deficit-to-GDP ratios, the issuance of ultra-long-term special treasury bonds and interest rate cuts. The meeting reaffirmed the need to adopt a moderately loose monetary policy next year, including the rollout of rate cuts and …

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy
1 month, 1 week ago

After $1.4 trillion package, China to cut homebuying taxes to revive ailing economy

Firstpost  

In the latest step to support ailing economy, China is expected to cut taxes for buying homes, according to Bloomberg In the latest step to support its ailing economy, China is expected to cut homebuying taxes, according to Bloomberg. The decision to cut homebuying taxes would come days after the announcement of a $1.4 trillion package to bail out local …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
1 month, 2 weeks ago

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?

Live Mint  

China is expected to unveil significant economic measures Friday at the conclusion of the National People's Congress Standing Committee meeting, aiming to revive its struggling economy, AP reported. Analysts believe China may need substantial, multi-trillion-yuan initiatives to reinvigorate growth in the world’s second-largest economy, which has yet to recover fully from the COVID-19 pandemic. Any new spending or economic boost …

Moves seen helping boost consumption
1 month, 2 weeks ago

Moves seen helping boost consumption

China Daily  

Consumer products on display at the ongoing China International Import Expo in Shanghai. ZHANG WEI/CHINA DAILY China's recent introduction of a potent stimulus policy package, including dedicated efforts to shore up consumer spending, will provide massive opportunities for global businesses keen to tap into its super-sized market and facilitate the transition toward a consumption-led growth model, global executives said on …

Focus on Consumers: Experts Say as China Embraces Consumption as Growth Engine
1 month, 4 weeks ago

Focus on Consumers: Experts Say as China Embraces Consumption as Growth Engine

China Daily  

China's focus on boosting consumer confidence is gaining momentum as a key growth driver. The government plans to invest heavily in social welfare and property sectors to stimulate spending and boost confidence. This shift is expected to help overcome the challenges of weak domestic demand and geopolitical uncertainties. The IMF's recent projections indicate that China's economy could grow by 4.8% …

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy
2 months ago

$1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy

LA Times  

China’s 1.4 billion consumers once spent with enough abandon to help drive the global economy. While the bigger factor is a worsening real estate downturn, which has eroded demand for commodities and diminished a crucial vehicle for household wealth and investment, economists say China’s economy is unlikely to recover without a rise in domestic spending. Chinese consumers are going through …

China's Economic Recovery on Track, With Positive Impact on GDP
2 months ago

China's Economic Recovery on Track, With Positive Impact on GDP

China Daily  

China's economy is showing signs of recovery, with the GDP growing by 4.6 percent in the third quarter, higher than the 4.5 percent market expectations. The authorities have implemented various policies to boost market confidence, including reducing the reserve requirement ratio and interest rates, lowering the interest rate on existing housing loans, and issuing a stimulus package. The financial market …

China's Economic Recovery on Track, With Positive Impact on GDP
2 months ago

China's Economic Recovery on Track, With Positive Impact on GDP

China Daily  

China's economy is showing signs of recovery, with the GDP growing by 4.6 percent in the third quarter, higher than the 4.5 percent market expectations. The government's policies, including reduced reserve requirements and interest rates, have helped boost market confidence and support the recovery of key industries such as manufacturing and real estate. While exports may continue to decline, the …

Economy: Xi Jinping’s stimulus package is too weak for China to be healthy
2 months ago

Economy: Xi Jinping’s stimulus package is too weak for China to be healthy

Slate  

This week: Big trouble in not-so-little China as the second-largest economy tries to get out of its post-COVID funk. Emily Peck, Elizabeth Spiers, and Reuters’ Anna Szymanski discuss China’s new economic stimulus measures, which might be too-little, too late. They also discuss the secretive family behind Boar’s Head and a Sherwood piece about a mysterious $7 billion estate tax. Finally, …

Growth target within reach on policy effort
2 months ago

Growth target within reach on policy effort

The Independent  

With a potent set of new policies being implemented on various fronts, China is on course to achieving its full-year economic growth target of around 5 per cent, signalling the resilience of the country’s economy despite challenges at home and abroad, said a senior expert. Chen Wenling, chief economist at the China Centre for International Economic Exchanges in Beijing, said …

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target
2 months ago

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The latest data show the world’s second largest economy …

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
2 months, 1 week ago

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?

Bloomberg  

China’s economic growth target of 5% this year is looking ambitious, given sluggish consumer spending, an uncertain outlook for the country’s exports and a still shaky property market. Fewer than a fifth of economists surveyed by Bloomberg Terminal Bloomberg were predicting gross domestic product would expand by 5% in 2024, as analysts at lenders such as Bank of America Corp. …

Stimulus Measures to Ignite Chinese Economy
2 months, 1 week ago

Stimulus Measures to Ignite Chinese Economy

China Daily  

China's economy is expected to pick up pace in the fourth quarter, supported by a slew of bolder-than-expected stimulus measures. The focus will be on tackling issues faced by enterprises, spurring consumption, and stabilizing the real estate sector to achieve the country's annual growth target of 5 percent.

Stimulus Measures to Rev Up China's Economy
2 months, 1 week ago

Stimulus Measures to Rev Up China's Economy

China Daily  

China's economy is expected to pick up pace in the fourth quarter, supported by a combination of monetary and fiscal stimulus measures. The focus will be on tackling issues faced by enterprises, spurring consumption, and stabilizing the real estate sector to achieve the country's growth target of 5 percent.

China grappling with weak consumer demand
2 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

By Sheng Songcheng | China Daily | Updated: 2024-09-30 07:48 AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax …

China grappling with weak consumer demand
2 months, 3 weeks ago

China grappling with weak consumer demand

China Daily  

AI China's economy is grappling with the significant challenge of weak consumer demand. If we raise this threshold from 5,000 yuan to 8,000 yuan, it is estimated that the annual tax revenue could decrease by about 30 billion yuan, which makes up for just 0.17 percent of the total tax revenue last year and would have minimal impact on overall …

Top Chinese economist disappears after criticising Xi Jinping
3 months ago

Top Chinese economist disappears after criticising Xi Jinping

The Telegraph  

But Xi’s efforts to prop up China’s economy cheered investors on Tuesday, with the Shanghai Shenzhen CSI Index rising 4.3pc – its biggest jump since July 2020. Mr Yu added: “Given the confidence issues among households and corporates, we doubt the measures are sufficient to jump-start the credit engine.” Lynn Song, ING’s chief economist for Greater China, said without extra …

China steps up efforts to boost domestic demand
3 months ago

China steps up efforts to boost domestic demand

China Daily  

A consumer learns about trade-in plans for home appliances at a store in Chongqing in July. SUN KAIFANG/FOR CHINA DAILY BEIJING -- The National Development and Reform Commission, China's top economic planner, said Thursday that it is intensifying efforts to spur investment and consumption in its bid to bolster domestic demand. Specifically, the NDRC will continue to support government investment …

More policy support to bolster growth expected
3 months, 1 week ago

More policy support to bolster growth expected

China Daily  

A robot operates equipment on the assembly line of an automaker in Xi'an, Shaanxi province. YUAN JINGZHI/FOR CHINA DAILY China is likely to gradually introduce new policies to bolster quality-oriented growth in the near term, as the latest indicators suggest the economy is still feeling the pinch of lackluster demand and low confidence among investors and consumers, analysts said. The …

Additional support to consumers worth at least 1 trillion yuan advisable, says expert
3 months, 3 weeks ago

Additional support to consumers worth at least 1 trillion yuan advisable, says expert

China Daily  

In a recent interview with China Perspectives, Zhang Ming, deputy director of the Institute of Finance & Banking at the Chinese Academy of Social Sciences, said that compared with the past, it is true that the probability of the Chinese central government providing direct support to low and middle-income groups has increased notably. Zhang suggested that the central government issue …

Additional support to consumers worth at least 1 trillion yuan advisable, says expert
3 months, 3 weeks ago

Additional support to consumers worth at least 1 trillion yuan advisable, says expert

China Daily  

In a recent interview with China Perspectives, Zhang Ming, deputy director of the Institute of Finance & Banking at the Chinese Academy of Social Sciences, said that compared with the past, it is true that the probability of the Chinese central government providing direct support to low and middle-income groups has increased notably. Zhang suggested that the central government issue …

Efforts to boost consumption urged
3 months, 3 weeks ago

Efforts to boost consumption urged

China Daily  

A growing number of economists are calling on Chinese policymakers to ramp up efforts to revive consumer sentiment and stabilize expectations, in a bid to address the pressing challenges of still-weak domestic demand and to bolster the world's second-largest economy. Among the traditional trio driving China's economic development — exports, investment and consumption — the economists emphasized that boosting consumption …

China on track to reach economic growth goal
4 months ago

China on track to reach economic growth goal

China Daily  

Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee delivers a speech at a news conference held in Beijing, on Tuesday. China is well poised to achieve its economic growth goal of about 5 percent this year, as the country continues to boost domestic demand, a senior expert said on Tuesday. Xu also said insufficient …

Experts see economy stabilizing
4 months ago

Experts see economy stabilizing

China Daily  

A worker conducts motion tests on AGV handling robots at the integrated AMT workshop of FAW Jiefang Automotive Co, a subsidiary of China FAW Group, in Changchun, Jilin province, on Aug 5, 2024. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces will inject fresh …

Experts see economy stabilizing
4 months ago

Experts see economy stabilizing

China Daily  

China's economy is likely to gradually stabilize in the third and fourth quarters, as policymakers are poised to step up stimulus measures aimed at stabilizing growth and deepening economic structural reforms, prominent economists said on Monday. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces …

Experts call for further restoring consumer sentiment
4 months, 1 week ago

Experts call for further restoring consumer sentiment

China Daily  

Customers select fruit at a supermarket in Dongying, Shandong province, earlier this month. LIU ZHIFENG/XINHUA Restoring consumer sentiment and revitalizing confidence among consumers will be among the key priorities for China's economic growth for the rest of this year, as policymakers shift their focus more toward seeking a consumer-led recovery, according to experts. "Although the economy still faces several headwinds, …

China's factory output disappoints, dashing hopes for speedy recovery
4 months, 1 week ago

China's factory output disappoints, dashing hopes for speedy recovery

The Hindu  

China's factory output growth slowed and missed expectations in July, adding to a series of indicators that show the world's second-largest economy is struggling to kick into a higher gear, even with recent government support. "The data shows that the economy has gotten off to a weak start in the second half of the year, and it is expected that …

China’s economy fails to pick up after worst stretch in five quarters
4 months, 1 week ago

China’s economy fails to pick up after worst stretch in five quarters

Hindustan Times  

China’s weakening economic momentum failed to pick up as sluggish confidence weighs on consumption and investment, putting the government’s annual growth target at risk. “It tells us that maybe one day, the weakness in the demand-side will return to bite the other side.” The latest snapshot of the $17 trillion economy shows domestic demand is barely benefiting from recent government …

China reports growth in the consumer economy
4 months, 1 week ago

China reports growth in the consumer economy

China Daily  

chinadaily.com.cn| Updated :2024-08-15 China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by 2.7 percent year-on-year in July, up …

China reports growth in the consumer economy
4 months, 1 week ago

China reports growth in the consumer economy

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2024-08-15 10:01 China reported major economic data on Thursday that pointed to faster growth on the consumer side while both industrial production and investment grew at a slower pace in July. Figures released on Thursday by the National Bureau of Statistics showed China's retail sales, a key measurement of consumer spending, grew by …

Economists advocate direct support to consumers
4 months, 1 week ago

Economists advocate direct support to consumers

China Daily  

Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of lackluster domestic demand, economists from government-backed think tanks said. Consumption — which contributed …

Economists advocate direct support to consumers
4 months, 1 week ago

Economists advocate direct support to consumers

China Daily  

By ZHOU LANXU and OUYANG SHIJIA | China Daily | Updated: 2024-08-13 09:25 Tourists visit a cultural block in Xiangyang, Hubei province, June 10, 2024. China's central government should consider additional direct support to consumers worth at least 1 trillion yuan — either cash or vouchers — in the rest of the year to effectively address the pressing challenge of …

China sees mild price growth as consumer demand expands
4 months, 1 week ago

China sees mild price growth as consumer demand expands

China Daily  

BEIJING - China's consumer prices gained mild growth in July as the domestic consumer demand continued to expand, official data showed Friday. The consumer price index, a main gauge of inflation, was up 0.5 percent year-on-year in July, slightly higher than the 0.2 percent increase in June, according to the National Bureau of Statistics. NBS statistician Dong Lijuan said that …

China sees mild price growth as consumer demand expands
4 months, 2 weeks ago

China sees mild price growth as consumer demand expands

China Daily  

BEIJING - China's consumer prices gained mild growth in July as the domestic consumer demand continued to expand, official data showed Friday. The consumer price index, a main gauge of inflation, was up 0.5 percent year-on-year in July, slightly higher than the 0.2 percent increase in June, according to the National Bureau of Statistics. NBS statistician Dong Lijuan said that …

Consumption boost requires society's buy-in
4 months, 2 weeks ago

Consumption boost requires society's buy-in

China Daily  

People visit the fourth China International Consumer Products Expo in Haikou, capital city of South China's Hainan province, April 18, 2024. China will work to further develop consumer services to support high-quality economic development and meet people's demand for personalized, diversified and quality services, according to a guideline made public on Saturday. The guideline, issued by the State Council, China's …

Consumption boost requires society's buy-in
4 months, 2 weeks ago

Consumption boost requires society's buy-in

China Daily  

People visit the fourth China International Consumer Products Expo in Haikou, capital city of South China's Hainan province, April 18, 2024. China will work to further develop consumer services to support high-quality economic development and meet people's demand for personalized, diversified and quality services, according to a guideline made public on Saturday. The guideline, issued by the State Council, China's …

Boost to market confidence, growth momentum
4 months, 2 weeks ago

Boost to market confidence, growth momentum

China Daily  

An employee tests LED lights at a tech company in Ruichang, Jiangxi province. WEI DONGSHENG/FOR CHINA DAILY China's recent decision to deepen economic structural reforms will significantly boost market confidence, revive growth momentum, and facilitate the country's sustainable and high-quality development in the next few years, said officials, experts and entrepreneurs. They estimated that China's economic activity will likely continue …

Boost to market confidence, growth momentum
4 months, 2 weeks ago

Boost to market confidence, growth momentum

China Daily  

An employee tests LED lights at a tech company in Ruichang, Jiangxi province. WEI DONGSHENG/FOR CHINA DAILY China's recent decision to deepen economic structural reforms will significantly boost market confidence, revive growth momentum, and facilitate the country's sustainable and high-quality development in the next few years, said officials, experts and entrepreneurs. They estimated that China's economic activity will likely continue …

Boost to market confidence, growth momentum
4 months, 2 weeks ago

Boost to market confidence, growth momentum

China Daily  

An employee tests LED lights at a tech company in Ruichang, Jiangxi province. WEI DONGSHENG/FOR CHINA DAILY China's recent decision to deepen economic structural reforms will significantly boost market confidence, revive growth momentum, and facilitate the country's sustainable and high-quality development in the next few years, said officials, experts and entrepreneurs. They estimated that China's economic activity will likely continue …

Boost to market confidence, growth momentum
4 months, 2 weeks ago

Boost to market confidence, growth momentum

China Daily  

An employee tests LED lights at a tech company in Ruichang, Jiangxi province. WEI DONGSHENG/FOR CHINA DAILY China's recent decision to deepen economic structural reforms will significantly boost market confidence, revive growth momentum, and facilitate the country's sustainable and high-quality development in the next few years, said officials, experts and entrepreneurs. They estimated that China's economic activity will likely continue …

To revive the economy, China wants consumers to buy better stuff
4 months, 2 weeks ago

To revive the economy, China wants consumers to buy better stuff

Live Mint  

Everywhere you look, the world’s politicians face tough economic choices. A survey by China’s central bank in April showed that over 60% of city-dwellers want to increase the amount in their savings accounts. America’s cash-for-clunkers programme, introduced in 2009 during the global financial crisis, prompted 360,000 extra car purchases in two months, according to Atif Mian of Princeton University and …

Clear-cut policy toolkit to steer Chinese economy ahead
4 months, 3 weeks ago

Clear-cut policy toolkit to steer Chinese economy ahead

China Daily  

The skyline of Beijing. Counter-cyclical adjustments should be strengthened, multiple monetary policy tools should be fully utilized, and financial support for the real economy should be reinforced, according to Tuesday's tone-setting meeting of the Political Bureau of the Communist Party of China Central Committee on priorities for H2. Consumption a priority Policymakers underlined the role of consumption in the meeting, …

Clear-cut policy toolkit to steer Chinese economy ahead
4 months, 3 weeks ago

Clear-cut policy toolkit to steer Chinese economy ahead

China Daily  

The skyline of Beijing. Counter-cyclical adjustments should be strengthened, multiple monetary policy tools should be fully utilized, and financial support for the real economy should be reinforced, according to Tuesday's tone-setting meeting of the Political Bureau of the Communist Party of China Central Committee on priorities for H2. Consumption a priority Policymakers underlined the role of consumption in the meeting, …

China revs up fiscal policy support to spur economic recovery
4 months, 3 weeks ago

China revs up fiscal policy support to spur economic recovery

China Daily  

A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. BEIJING - China is making efforts to step up its fiscal policy support and ensure the implementation of established policies, aiming to consolidate its economic recovery as rising external headwinds weigh on growth. The country will strengthen its fiscal policy to ensure the economy sustains its recovery momentum, …

Improve consumption for high-quality growth
4 months, 3 weeks ago

Improve consumption for high-quality growth

China Daily  

Shoppers pick fruit at a supermarket in Beijing, May 12, 2024. The central authorities have recently called on boosting consumption, namely enhancing the purchasing power and willingness of middle-and low-income groups. This cannot be separated from increased income, as income growth directly enhances residents' purchasing power and stable income growth increases people's willingness to consume. Further, since low-income groups in …

Buoyed by big market, growing demand, consumption to be stronger biz driver
5 months, 1 week ago

Buoyed by big market, growing demand, consumption to be stronger biz driver

China Daily  

An employee addresses consumer queries on home appliance trade-ins at a store in Chongqing on Thursday. However, as the impact of the pandemic has since receded, China's consumption market has gradually recovered, demonstrating resilience and unveiling new growth opportunities. Vast market In 2019, China's total consumption reached 40.8 trillion yuan. From January to May 2024, total retail sales of consumer …

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