KONTAN.CO.ID - BEIJING. The Chinese government has ordered policies and resources to be geared towards sectors including tourism and sports to help give a broad-based boost to domestic consumption as China's trade spat with the United States threatens to slow the economy. According to a detailed document issued by the State Council, or cabinet, late on Thursday, the government is marshalling resources to support consumer spending on leisure cruises, yachts, self-driving cars, recreation vehicles and air travel. Shares in China advanced on Friday, led by consumer stocks, after the publication of the consumption document. An index tracking major consumer firms rose 1.76 percent.
China redoubles efforts to boost domestic demand as trade war bites
KONTAN.CO.ID - BEIJING. The Chinese government has ordered policies and resources to be geared towards sectors including tourism and sports to help give a broad-based boost to domestic consumption as China's trade spat with the United States threatens to slow the economy. According to a detailed document issued by the State Council, or cabinet, late on Thursday, the government is marshalling resources to support consumer spending on leisure cruises, yachts, self-driving cars, recreation vehicles and air travel. Shares in China advanced on Friday, led by consumer stocks, after the publication of the consumption document. An index tracking major consumer firms rose 1.76 percent.