The news: China’s retail sales grew 4.0% YoY in January and February, up from 3.7% in December and ahead of the 3.8% median forecast, per Bloomberg.
To sustain that momentum, Beijing unveiled a 30-point “special action plan” aimed at boosting consumption. Key measures include:
- Increasing incomes to drive spending
- Halting property price declines to restore confidence in the housing market
- Stabilizing the stock market to encourage investment
- Providing child-care subsidies to ease families’ financial pressures