After hinting at stimulus measures last week, China rolled out a series of plans to boost local consumption to charge its flagging economy — but these may not be enough, say analysts.
On Monday, the country released a plan targeting the automobile, real estate, and services sectors that aim to “give full play to the fundamental role of consumption in economic development,” according to Insider’s translation of an official statement from the country’s top planning agency.
The measures to boost demand include improving electric vehicle infrastructure, expanding the supply of affordable rental housing, and getting local governments to cut admission fees at attractions. No further details about the measures were available as of press time.
However, the stimulus measures have failed to live up to expectations, said Citi analyst Wenyu Yao, Australian Financial Review reported Monday.