In a bid to boost domestic demand, China’s National Development and Reform Commission (NDRC) is ramping up efforts to stimulate investment and consumption. The top economic planner announced plans to support government investment, drive social investment, and encourage private businesses to engage in national projects.
The NDRC will provide high-quality projects for private investors, promote government-private investment cooperation, and issue real estate investment trusts to spur private investment. Additionally, the commission will focus on increasing incomes to boost people’s spending power and prioritize the development of service consumption in various sectors.
Despite challenges, China’s consumer market has shown signs of stable recovery, with retail sales of consumer goods growing by 2.1 percent in August. The consumer price index also rose by 0.6 percent year-on-year in the previous month, indicating a slight acceleration in inflation.