From tourism to healthcare, China unveils a 19-point plan to get people spending
China is making a renewed push to boost service consumption by relaxing market access and increasing supply – across sectors such as culture, sports and healthcare – as Beijing doubles down on expanding domestic demand for economic growth. The measures, which also include strengthening fiscal support and investments, were released in a 19-point set of…
China is making a renewed push to boost service consumption by relaxing market access and increasing supply – across sectors such as culture, sports and healthcare – as Beijing doubles down on expanding domestic demand for economic growth.
The measures, which also include strengthening fiscal support and investments, were released in a 19-point set of guidelines jointly released by the Ministry of Commerce and nine other departments on Tuesday.
Authorities pledged to further open up the culture industry, promising to channel existing funds to high-quality creative works and productions, and to extend the operating hours of popular museums and other scenic sites.
They also laid out plans to introduce more international sports events and support local governments in hosting mass sports activities, as well as to reduce red tape and attract more foreign and private investment to fields such as mid- to high-end medical care.
To raise demand, the measures proposed expanding visa-free access to attract more foreign visitors to China, and exploring adjustments to schools’ holiday schedules to allow more time for travel and other activities.
Authorities also vowed to encourage financial institutions to lend more to businesses in the sector and implement interest subsidies for consumer loans in key areas.
