Markets gain momentum with fresh govt initiatives

Chinese authorities and businesses are rolling out innovative measures to boost domestic consumption as part of nationwide efforts to stimulate economic growth.

In Chongqing, a district Party secretary recently made a public gesture to encourage spending by dining out at a local restaurant, where he spent 1,100 yuan ($153) hosting two tables of guests. He emphasized the importance of leading by example to boost consumption.

The move aligns with broader national campaigns targeting the summer vacation period. On Monday, China launched the national summer cultural and tourism consumption season in Qingdao, Shandong province, a two-month campaign featuring more than 39,000 events across the country, backed by over 570 million yuan in subsidies and discounts.