China says it’ll introduce another new policy to boost consumption
That link above is to a policy announcement made earlier this week. More detail now:
- China’s Ministry of Commerce and eight other departments issued a plan to expand and upgrade “15-minute convenience living circles,” neighbourhood hubs providing daily services within walking distance.
- By 2030, Beijing aims to establish 10,000 such circles across 100 pilot cities, covering all prefecture-level urban areas and eligible county-level communities.
- The initiative also calls for 500 “Silver Hair Golden Streets” for seniors, 500 “Children’s Fun Parks,” and improvements to quality, services, and digital efficiency.
- Targets include a resident satisfaction rate above 90% and raising the share of chain commercial outlets to 30%.
As it said earlier in the week, the aim is to boost consumption. If it works that’ll be a positive for China’s economy.
This article was written by Eamonn Sheridan at investinglive.com.