China will take ‘forceful steps’ to boost consumption, Premier Li says
Investing.com-- China will act more aggressively to boost laggard consumption in the country, Premier Li Qiang said in an address on Thursday, likely heralding more stimulus measures from Beijing.
China will take forceful steps to boost consumption,” Li said in an address at the Asian Infrastructure Investment Bank’s annual meeting.
Li also highlighted resilience in the Chinese economy, and said that growth had remained stable in the second quarter.
Beijing had through late-2024 rolled out a slew of measures aimed at boosting laggard consumer spending in the country, most notably subsidies on electronics and household goods.
While the measures did appear to be providing some support, China’s disinflation trend showed few signs of improving in recent months, with U.S. trade tariffs on the country applying fresh pressure.
Li’s comments on Thursday likely herald more policy support from Beijing, with investors still holding out for more fiscal stimulus.
A recent stop-gap trade agreement between the U.S. and China, which slashed trade tariffs on the country, also stands to benefit the economy.
But while a swathe of recent economic readings showed some pressure from the U.S. tariffs, they also highlighted resilience in the world’s second-largest economy.
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