All-out efforts aim to lift consumption

Action plan points nation in direction of spending-led model

China has rolled out a comprehensive set of initiatives aimed at stimulating consumer demand, with a particular emphasis on enhancing household income and expanding the national trade-in program, as the world's second-largest economy puts boosting consumption high on its policy agenda for this year.

The latest push to reignite consumption will help China remain on track to meet this year's growth target of around 5 percent in the face of escalating external uncertainties, and facilitate its long-term transition toward a more consumption-led economic model, officials and analysts said.

The general offices of the Communist Party of China Central Committee and of the State Council, China's Cabinet, jointly issued a special action plan in mid-March to address the key challenges weighing on consumer sentiment and spending power, and unleash the full potential of domestic demand as a critical driver of economic growth.