China's Bold Push to Boost Domestic Consumption

China plans to enhance efforts to boost consumption and expand domestic demand. Vice Premier He Lifeng emphasized the need for an expanded consumer goods trade-in scheme to further stimulate economic growth, according to state news agency Xinhua.

China is set to ramp up initiatives aimed at promoting consumption and broadening domestic demand, as reported by state news agency Xinhua. Vice Premier He Lifeng made these announcements on Friday, underlining the government's commitment to invigorating the economy.

The Vice Premier highlighted an ambitious plan to expand the consumer goods trade-in scheme. This move is part of China's strategic effort to stimulate economic growth by encouraging consumer spending.

The expansion of domestic demand is crucial for maintaining economic momentum, and the government's renewed focus on consumption is seen as a step toward achieving this goal.

(With inputs from agencies.)