Overview

• China's government unveiled a 30-point action plan to stimulate domestic consumption, focusing on increasing household income and reducing financial burdens.
• Measures include raising minimum wages, enhancing paid leave enforcement, and introducing subsidies such as childcare support to encourage spending.
• The plan outlines efforts to stabilize the stock and property markets, with a goal to reverse the property market's decline and improve investor confidence.
• Authorities also aim to promote tourism by expanding visa-free travel arrangements and supporting winter tourism in ice and snow regions.
• The initiative follows mounting pressure to address weak consumer demand, deflationary trends, and reliance on exports, with leaders pledging fiscal and credit support to implement these measures.