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China looks to boost consumption to help economic recovery

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The State Council says it is looking to expand demand by boosting property and car sales, as well as subsidising green energy products

Beijing hopes to boost its economic recovery by rolling back restrictions on car and property sales and offering tax breaks and subsidies for environmentally friendly products to boost consumption.

The measures, announced at Friday’s executive meeting of the State Council, China’s cabinet, may reflect the reality that service sectors – such as catering, retail, tourism and transport – will continue to face pressure as a result of the country’s zero-Covid policies in the second half of the year.

“We must take comprehensive measures to expand effective demand,” Premier Li Keqiang told the meeting.

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