People cycling before Canton Tower (left) in Guangzhou, in China's southern Guangdong province. — AFP
China will ramp up efforts to drive large-scale equipment upgrades and trade-in deals for consumer goods, with plans for strengthened supervision of the funds and measures to stimulate consumer spending, China's top economic regulator said on Tuesday.
Li Chao, a spokeswoman for the National Development and Reform Commission, said the next phase will see strengthened full-chain supervision of funding, ensuring that projects swiftly deliver tangible outcomes. Authorities will also crack down on market malpractices, such as deceptive pricing tactics like "raising prices before applying discounts" and false promotions.
