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Beijing unveils plan to boost consumption

The Beijing Municipal Government has issued a 24-point action plan to stimulate consumption and enhance its role as an international consumption hub. Key measures include easing housing and car purchase policies, improving public services, and boosting household income. The plan supports using housing provident funds for both down payments and loans, and proposes reforms to car license quotas to address growing demand. It also promotes cultural, healthcare, and digital services, and encourages growth in household income through higher minimum wages and job creation programs. Beijing aims to grow total consumption by 5% annually by 2030.

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