Why is China spending billions to get people to open their wallets?

Quick Summary:

Beijing hopes better wages and discounts can enocurage spending and stave off greater economic trouble.

Caiyun Wang, a National People's Congress representative, said, "With a population of 1.4 billion, even a 1% rise in demand creates a market of 14 million people.

A 2024 study by Chinese think tank YuWa estimated that raising a child to adulthood in China costs 6.8 times the country's GDP per capita - among the highest in the world, compared to the US (4.1), Japan (4.3) and Germany (3.6).

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Article Details

Category: Business

Markets: United KingdomChinaGermanyIndiaJapanOmanTaiwan

Topics: Spending Economic Consumption Market Economy China Growth People Chinese

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-18 @ 00:00:40 (1 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 1608 words

Reading Time: 9 minutes read

Sentences: 70 lines

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Copyright Owner: © BBC Business

News ID: 27125507

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