Cabinet reports that it will implement policies to further boost consumption

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In a cabinet statement, the Chinese government stated on Wednesday that implement policies to further boost consumption, Reuters reported, citing Chinese state media. In it, it was indicated that “stability and continuity will be maintained and the effectiveness of macro policies will be strengthened.”

The announcement added that more market-based measures will be used to estabilize raw material prices, guarantee gas and electricity supply in winter. indicated that it will be guaranteed that the economic operation is within a reasonable range.

“The Chinese economy faces challenges from sporadic cases of COVID-19, and high prices of raw materials,” the cabinet said. They pointed out that they will strengthen coordination between fiscal, financial and employment policies.

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