Analysis-China signals sharper pivot to consumption as imbalances worsen
Update: 2025-10-30
Description
China announces a shift in economic strategy, focusing on boosting household consumption over the next five years. This move aims to address issues like a sluggish property market and trade tensions with the US. The plan includes increasing public spending on services, raising incomes, and making it easier for people to spend more. If successful, this shift could make China's economy less vulnerable to swings in exports or big infrastructure projects. However, it's unclear if there will be firm targets, and changes may take time due to low consumer confidence and developing social safety nets. The full plan will be released in March, with details on how ultra-long bonds will be used for programs like upgrading consumer goods and public services.
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