Stimulus package set to ignite fresh growth in China's consumer market

People visit the fourth China International Consumer Products Expo (CICPE) in Haikou, capital city of south China's Hainan Province, April 18, 2024. – Xinhua

BEIJING: From household appliance to auto manufacturing, a wide range of industries in China are gearing up for recovery. Policymakers have fleshed out details for a stimulus package to revitalize the super-large market.

In its latest bid to boost domestic demand, China's leadership signalled its intention to expand consumer spending in a high-level meeting on Tuesday (July 30). The meeting underscored promoting the country's sweeping program of large-scale equipment upgrades and trade-ins of bulk durable consumer goods.