Consumption friendly moves expected soon

Contribution of domestic demand to GDP growth reaches 68.8% in first half

China is likely to roll out fresh policy initiatives focused on further boosting domestic demand and enhancing economic resilience, as analysts cautioned about the growing impact of external pressures, particularly Washington's "reciprocal" tariffs, intensifying in the current half.

The State Council, the country's Cabinet, made it clear during an executive meeting last week it would fully implement consumption-boosting initiatives and remove unreasonable restrictions that impede consumer spending. Furthermore, efforts will be made to optimize trade-in policies for consumer goods, diversify supplies in response to household consumption needs and expand investment in emerging services sectors.

The contribution of domestic demand to GDP growth reached 68.8 percent in the first six months, with final consumption expenditure accounting for 52 percent of that growth, said the National Bureau of Statistics in mid-July.