A resident walks out from a local convenience store in downtown Beijing on March 8. (Vincent Thian/AP)
China has vowed to “vigorously boost consumption” as it tries to inject new momentum into the world’s second largest economy, which was already struggling even before President Donald Trump launched a full-frontal trade war that threatens to sap demand for its exports.
Financial authorities in Beijing Sunday released an 30-point “special action plan” with priorities including boosting incomes, halting the fall of property prices, stabilizing the stock market and providing child care subsidies. They ordered local governments to “expand domestic demand in all directions.”