China’s National Development and Reform Commission (NDRC), the state planner, said on Wednesday, the country is formulating plans to boost the recovery and expansion of consumption.

Key takeaways

"Currently, we are working on drafting documents on the recovery and expansion of consumption, mainly focusing on key areas such as stabilizing big-ticket consumption, enhancing service consumption and expanding rural consumption.”

“Stabilizing of automobile consumption, which was a "big part" of supporting consumption, by promoting new energy vehicles to rural areas.”

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