China Issues New Plan to Aid Consumption by Focusing on Services

China announced wide-ranging measures to stimulate domestic demand by promoting the consumption of services such as sports and entertainment, the latest attempt to help an economy grappling with slower growth.

The plan, issued on Tuesday by the Ministry of Commerce along with several other departments, doesn’t introduce more funding or subsidies for the services sector. But the 19 measures it outlines indicate the government will use its budget to develop the necessary infrastructure and guide banks to lend more to services providers along with consumers.