Boosting consumption high on 2024 agenda

Economists: Focus should be on tasks such as spending on big-ticket items

China is likely to take more steps to revive consumer demand and boost spending appetites next year as it seeks to inject strong impetus into a consumption-led recovery amid pressure from subdued demand and property sector weakness, economists said on Wednesday.

They said boosting consumption will be a key step to expand domestic demand and revive recovery momentum next year, and the focus should be placed on key tasks such as boosting spending on big-ticket items and enhancing services consumption.

Their comments came as the tone-setting annual Central Economic Work Conference held in Beijing from Monday to Tuesday said China still has to overcome some difficulties and challenges — such as lack of effective demand — to further revive the economy.