Boost for consumer spending promised
China is planning to open more duty-free stores and facilitate the import of popular daily commodities to stimulate domestic spending amid flagging deflationary pressure.
An executive meeting of the State Council, presided over by Premier Li Keqiang, decided on Wednesday to issue a package of policies to shore up consumption, one of the driving engines tapped by the government to support economic growth.
The meeting decided to open more duty-free stores at ports of entry across the country and to import more popular consumer goods, as the shopping list of Chinese overseas travelers has expanded from luxury brands to daily living products, according to a statement released after the meeting.
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