MNI BRIEF: China Plan To Boost Services Consumption Released

Beijing will pursue a 19-point action plan aimed at boosting service consumption across five key areas, the Ministry of Commerce said on Tuesday. 

According to the ministry, officials will cultivate platforms to stimulate service consumption and expand fiscal and financial support. This includes the use of local government special bonds to fund the construction of service facilities. Authorities plan to step up credit support for service-related consumption and introduce loan interest subsidies, the ministry added.

China’s latest round of consumption stimulus will emphasise boosting services, with local governments taking the lead as near-term, advisors told MNI. (See MNI: China To Bolster Service Consumption)