MNI BRIEF: China To Open Consumption Market - He Lifeng

China is launching targeted campaigns to boost consumption and create broader markets for global enterprises, while leading developing countries to participate in global industrial and supply chains, said vice premier He Lifeng, at the China International Supply Chain Expo in Beijing on Wednesday.

The country will advance the "dual circulation" model, where domestic and international markets reinforce each other, said He, noting that authorities will support advanced manufacturing and promote digital, intelligent, and green transformation in the global industrial and supply chain. (See MNI: China's GDP Faces H2 Growth Challenges)

Some countries were intervening in markets under the pretext of “de-risking,” using tariffs and other tools to promote the so-called reshoring of manufacturing, which has reduced global economic efficiency, He said, stressing that trade wars have no winners.