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Stability First, Consumption Pending

Stability First, Consumption Pending (Dec. 4, 2024)

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Chinese authorities finally on 8 November announced the long-awaited new economic support measures approved by the Standing Committee of the National People's Congress (NPC), with finance minister Lan Fo’an giving an analysis. The market had long been waiting for support at a time when the economy was getting tougher. However, the government remained focussed on financial stability and hidden debt, rather than boosting consumption, which may be more beneficial to the economy in the short term. Why is this, and what future plans may the government consider?  

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