China Leaders Vow to Lift Consumption Without Detailing How
- State council meeting encourages spending on big ticket items
- Economy slowed in July with weak consumer, investment data
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China’s top leaders pledged to expand domestic consumption and support the private sector without detailing any new stimulus measures, the latest in a series of rhetorical attempts to boost confidence in the economy as markets sink and growth disappoints.
The nation’s State Council promised to meet annual economic targets via “targeted and forceful” macroeconomic adjustments and strengthened policy coordination, China National Radio reported, citing a plenary meeting led by Premier Li Qiang on Wednesday.