China unveils more measures to boost domestic demand to help businesses
China is set to unveil more measures to boost consumption this quarter, in a bid to help businesses tap into a larger customer base. A vice-minister said emphasis will be placed on encouraging consumers to upgrade electric vehicles and bikes, as well as promoting famous Chinese brands and food production. Support will also be given to "new" types of consumption, including low-altitude logistics like drones, and agricultural and forestry planning. The finance ministry had announced efforts days earlier, targeting main drags on the economy -- namely the property market and government debt. Lauren Ong reports.Â
China is set to unveil more measures to boost consumption this quarter, in a bid to help businesses tap into a larger customer base. A vice-minister said emphasis will be placed on encouraging consumers to upgrade electric vehicles and bikes, as well as promoting famous Chinese brands and food production. Support will also be given to "new" types of consumption, including low-altitude logistics like drones, and agricultural and forestry planning. The finance ministry had announced efforts days earlier, targeting main drags on the economy -- namely the property market and government debt. Lauren Ong reports.Â