‘Actionable results’, new ideas needed to boost China’s consumption, No 4 official says
On the same day China’s political advisory body called for a national discussion to solve the domestic-demand conundrum, Premier Li Qiang also pushed for measures to spur spending
Improving domestic demand is a strategic priority and a necessary step towards ensuring the long-term and healthy development of China’s economy, said Wang Huning, head of the Chinese People’s Political Consultative Conference and China’s No 4 official, at a meeting of the political advisory body on Wednesday that was specifically dedicated to boosting demand.
“Efforts should focus on key issues related to expanding domestic demand, delivering more in-depth, detailed and practical research outcomes, and ensuring that these findings are effectively translated into actionable results,” he said.
Wang also called for improvements in the quality of field research and the overall standard of policy proposals and political consultation, according to a statement published by party mouthpiece Xinhua after the meeting.
Wang’s remarks came just a couple of weeks before a meeting of China’s cabinet, the 24-member Politburo, scheduled for the end of the month, and with analysts expecting further demand-side stimulus policies as China struggles to lift domestic consumption.
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