President Xi Jinping has called for Chinese citizens to step up their consumption levels in order to bolster domestic demand.
“Consumption is an important engine of China’s economic growth” Xi said on 31 January during Communist Party of China (CPC) Politburo’s second collective study session on accelerating the establishment of new development conditions.
According to state-owned media reports, during the Politburo meeting Xi stressed the need to “establish and improve a long-term mechanism for expanding household consumption, so that households can have stable incomes and be capable of consumption; dare to consume without concern, and have a positive consumption environment with a strong sense of gain and strong willingness to consume.”
