China pledges to make consumption recovery a major driver of the economy
stack of coins with white arrow upwards, financial growth concept

China Central Television reported that the State Council pledged to step up efforts to help recover consumption and make it a major driver of economic growth.
It will expand the “well-being to work” initiative to drive consumption by creating jobs and boosting incomes, according to Bloomberg News.
The re-lending program will encourage banks to provide loans to support companies in improving equipment related to consumer products.
Private investment will be encouraged to undertake large projects.
The State Council again pledged to ensure that economic activity remains within a “reasonable range” and urged officials to introduce more stimulus measures.