China announced a new package of measures aimed at expanding services consumption and stimulating domestic demand as policymakers seek to bolster a slowing economy. The measures, comprising 19 items across five areas, were jointly released by nine government agencies including the Ministry of Commerce and Ministry of Finance. Authorities pledged to open sectors including internet, culture, telecommunications, healthcare, and education. The package encourages hosting international sports events and easing market access in high-end medical services, leisure, and tourism. Additional support includes credit expansion for consumption and interest subsidies for service providers.
China announces measures to boost services consumption
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