CHINA'S STATE COUNCIL AND CPC CENTRAL COMMITTEE ISSUE "ACTION PLAN TO REVITALIZE CONSUMPTION" TO BOOST DOMESTIC DEMAND.
ACTION PLAN FOCUSES ON INCREASING INCOMES, IMPROVING CONSUMPTION CAPACITY, UPGRADING SERVICE QUALITY, AND OPTIMIZING CONSUMPTION ENVIRONMENT.
🔸FIRST MAJOR INITIATIVE: PROMOTE URBAN-RURAL RESIDENT INCOME GROWTH. MEASURES INCLUDE RAISING MINIMUM WAGES, EXPANDING WORK-RELIEF PROGRAMS, AND CRACKING DOWN ON WAGE ARREARS FOR SMES.
PLAN AIMS TO BROADEN PROPERTY-INCOME CHANNELS BY STABILIZING STOCK MARKETS, EASING LONG-TERM CAPITAL MARKET ACCESS, AND STRENGTHENING STATE-OWNED ENTERPRISE MARKET VALUE MANAGEMENT.
AGRICULTURAL INCOME BOOSTS: IMPLEMENT GRAIN FARMER SUBSIDY MECHANISMS, PROMOTE "THREE PRODUCTS, ONE STANDARD" AGRI-PRODUCTS, AND DEVELOP RURAL TOURISM/ECONOMIES.
🔸SECOND INITIATIVE: ENHANCE CONSUMPTION CAPACITY. KEY MEASURES INCLUDE INTRODUCING CHILDCARE SUBSIDIES, EXPANDING EDUCATION/HEALTHCARE RESOURCES, AND RAISING PENSIONS IN 2025.
MEDICAL REFORMS: FULLY IMPLEMENT PERSONAL PENSION SYSTEM, REMOVE HOUSEHOLD REGISTRATION BARRIERS FOR FLEXIBLE WORKERS' INSURANCE, AND EXPAND OCCUPATIONAL INJURY COVERAGE.
🔸THIRD INITIATIVE: UPGRADE SERVICE CONSUMPTION. PROMOTE ELDERLY-FRIENDLY INFRASTRUCTURE, COMMUNITY-BASED CHILDCARE, AND HOME SERVICES INDUSTRY STANDARDS.
TOURISM BOOST: EXTEND SCENIC SPOT OPERATING HOURS, SIMPLIFY EVENT APPROVALS FOR NATIONWIDE TOURS, AND LAUNCH ICE AND SNOW TOURISM PROMOTION PLAN.
🔸FOURTH INITIATIVE: UPGRADE MAJOR CONSUMPTION. IMPLEMENT NATIONWIDE TRADE-INS FOR CARS, APPLIANCES, AND SMART DEVICES WITH SUBSIDIES. SUPPORT SECOND-HAND GOODS MARKET DEVELOPMENT.
HOUSING MEASURES: ACCELERATE URBAN VILLAGE RENOVATION, ALLOW SPECIAL BONDS FOR GOVERNMENT HOUSING PURCHASES, AND EXPAND HOUSING PROVIDENT FUND USAGE FOR RENTAL/PURCHASE.
🔸FIFTH INITIATIVE: IMPROVE CONSUMPTION QUALITY. DEVELOP "CHINA SERVICE" BRANDS, PROMOTE CULTURAL IP PRODUCTS, AND ACCELERATE AI+ CONSUMPTION IN AUTONOMOUS DRIVING/WEARABLES.
SUPPORT LOW-ALTITUDE ECONOMY: DEVELOP TOURISM/DRONE CONSUMPTION, STREAMLINE YACHT REGISTRATION, AND ENRICH CRUISE ROUTES.
🔸SIXTH INITIATIVE: OPTIMIZE CONSUMPTION ENVIRONMENT. ENFORCE PAID LEAVE RIGHTS, LAUNCH 3-YEAR CONSUMER PROTECTION CAMPAIGN, AND CRACK DOWN ON FAKE PRODUCTS/UNFAIR PRICING.
IMPROVE RURAL-URBAN DISTRIBUTION: BUILD COUNTY-LEVEL LOGISTICS HUBS, UPGRADE NIGHTTIME CONSUMPTION INFRASTRUCTURE, AND DEVELOP IMMERSIVE RETAIL SPACES.
🔸FINAL INITIATIVE: REDUCE CONSUMPTION RESTRICTIONS. BAN "ONE-SIZE-FITS-ALL" POLICIES, EASE AUTO PURCHASE LIMITS FOR LONG-TERM LICENSE PLATE LOTTERY PARTICIPANTS, AND SUPPORT TRADITIONAL FESTIVAL ACTIVITIES.
PLAN EMPHASIZES CROSS-DEPARTMENT COORDINATION AND LOCAL GOVERNMENT IMPLEMENTATION TO ACHIEVE CONSUMPTION-LED ECONOMIC GROWTH.
Bernd
Sun, 16 Mar 2025 18:25:48 GMT
No. 25653955
>>25653984
>make poor people earn more
what the fuck?
Bernd
Sun, 16 Mar 2025 18:25:54 GMT
No. 25653956
SÄGE!
>>25653984
lmfao they are spiraling, they have to resort to stimmy checks, what happened to "do nothing, win"?
Bernd
Sun, 16 Mar 2025 18:28:18 GMT
No. 25653971
move here and enjoy the stimulus if you know what I meanhehehehe
Bernd
Sun, 16 Mar 2025 18:30:37 GMT
No. 25653984
>>25653955
They depended to much on American consumer demand, they probably feel that huge market is going to collapse in some way or the protectionism is here to stay. Only alternative is EU and they aren't interested in filling the void on consumption yet anyways
>>25653956
It's not stimulus cheques a la trump but a bunch of socdem welfarist policies the commies traditionally opposed
Bernd
Sun, 16 Mar 2025 18:30:38 GMT
No. 25653985
>>25654035
> subsidies
> money printing
> gibs
It will sure work this time.
Bernd
Sun, 16 Mar 2025 18:31:43 GMT
No. 25653997
>>25654035
Yes, place more tax burden and debt on the people who can't afford it to provide services that drive them further into debt, surely that is a winning strategy.
Bernd
Sun, 16 Mar 2025 18:40:28 GMT
No. 25654030
>>25654035
Every point already exist in EU. Nothing smart or revolutionary. Just a capitalism with regulator face.
Bernd
Sun, 16 Mar 2025 18:41:41 GMT
No. 25654035
>>25654054
>>25654133
>>25653985
It did work. See how America developed a consumer society in mid-20th century through federal government subsidizing homeownership, farmers, prompting consumer spending, etc, etc. It's funny because America's literally going in the opposite direction try to rip up all of that right now
>>25653997
>Yes, place more tax burden and debt on the people who can't afford it to provide services that drive them further into debt, surely that is a winning strategy.
None of this seems to be on the back of regressive taxes? China has issues with excess private savings anyways, it's not like in America where everyone has credit cards maxxed out. The thing is the commies have a lot of regulations artificially surprising private consumption and income and the government runs ridiculous trade surpluses unlike in America, you don't need to "tax" people to get them to spend money you can just loosen some things and provide incentives here and there in a lot of ways
>>25654030
EU has regressive tax structure and weak governance... China can go more extreme if they want
Bernd
Sun, 16 Mar 2025 18:43:38 GMT
No. 25654054
>>25654231
>>25654035
>EU has regressive tax structure
Most countries in EU have progressive taxation and this is why US keeps brain draining us.
Bernd
Sun, 16 Mar 2025 18:54:40 GMT
No. 25654133
>>25654231
>>25654035
>China has issues with excess private savings anyways
The saving of the average Chinese person is in the form of debt which they took out to buy property leases back when the Chinese real estate economy was bullish.
What little personal saving that exist in the form of liquid assets are in the hands of the one percent, nearly identical to America in that regard.
Trying to squeeze more fake money out of the population when they lost everything in China's property bubble will not stimulate the economy any more because they've already tapped into that resource to the point of exhaustion. America learned the same lesson back in 2008. The only difference is that when the rug gets pulled from China's property bubble the impact will be even worse for them because far more people have their savings tied in property then the average American did.
Bernd
Sun, 16 Mar 2025 19:09:06 GMT
No. 25654231
>>25654334
>>25654537
>>25654054
>Most countries in EU have progressive taxation and this is why US keeps brain draining us.
Not true actually. America doesn't have stuff like VAT. Poor people in EU pay way more than poor people in America to their governments typically.
If EU had even more regressive taxes and just dropped any type of progressivity on income/etc but still had much lower pre-tax incomes those same people would still want to go to America. EU's big issue is low income but that's a policy to be "competitive", if you called for massive income boosts instead of tax cuts that wouldn't be taken serious.
>>25654133
>The saving of the average Chinese person is in the form of debt which they took out to buy property leases back when the Chinese real estate economy was bullish.
True but you're missing the issue of what to do about that. Like I said there's an issue with private saving and they need to shrink the dependence on that obviously.
Middle class American wealth is mostly tied up in home equity similarly except most people don't think there's a bubble and prices will keep going up to fund their retirements along with a small amount of stock ownership and some social security payments from government (which Elon+Trump will totally protect).
>Trying to squeeze more fake money out of the population when they lost everything in China's property bubble will not stimulate the economy any more because they've already tapped into that resource to the point of exhaustion. America learned the same lesson back in 2008. The only difference is that when the rug gets pulled from China's property bubble the impact will be even worse for them because far more people have their savings tied in property then the average American did.
That's the entire point of this, they're going on some sort of socdem redistributionist scheme the commies traditionally opposed. The commies were trying to promote Pinochet type ideas two decades ago so they're shifting here. Xi thinks he can make deflation work and doesn't need to do American style policies.
Bernd
Sun, 16 Mar 2025 19:28:24 GMT
No. 25654334
>>25654679
>>25654231
>they're going on some sort of socdem redistributionist scheme the commies traditionally opposed
like what? and plus, local governments are short on cash at the moment, some of the welfare related policies are hard to truly implement
>Pinochet type ideas
like what?
>make deflation work
do you know truly understand what you were saying or assuming?
Bernd
Sun, 16 Mar 2025 19:34:30 GMT
No. 25654379
>>25654389
The only measure that is actually needed is not on the list:
Remove yuan price controls
Bernd
Sun, 16 Mar 2025 19:36:47 GMT
No. 25654389
>>25654407
>>25654379
>yuan price controls
u wot m8, this is not 1980s or early 1990s anymore
Bernd
Sun, 16 Mar 2025 19:39:30 GMT
No. 25654407
>>25654424
>>25654389
I mean the exchange rate not grocery prices
Bernd
Sun, 16 Mar 2025 19:41:24 GMT
No. 25654424
>>25654430
>>25654537
>>25654407
this issue is quite complicated, no comments
Bernd
Sun, 16 Mar 2025 19:42:24 GMT
No. 25654430
>>25654442
>>25654424
This is what keeps chinks poor and export prices low
Bernd
Sun, 16 Mar 2025 19:43:35 GMT
No. 25654442
>>25654450
>>25654430
that's rich coming from a lithuanian
Bernd
Sun, 16 Mar 2025 19:44:17 GMT
No. 25654450
>>25654492
>>25654442
Lithuanian gdp per capita is two time higher
Bernd
Sun, 16 Mar 2025 19:48:37 GMT
No. 25654492
>>25654498
>>25654450
good for you I guess, but I have to say your economy is quite small compared to china's. and thus many economic issues are perceived and handled quite differently
Bernd
Sun, 16 Mar 2025 19:49:25 GMT
No. 25654498
>>25654537
>>25654492
Lithuania is part of eurozone which is bigger than chinas
Bernd
Sun, 16 Mar 2025 19:55:00 GMT
No. 25654537
>>25654543
>>25654231
oi, reply to the thread instead of sending chatty gpt guys here
>>25654498
and? even from your perspective, the diplomatic environments and economic structure still differ, and as I said
>>25654424 here, this issue is quite complicated
Bernd
Sun, 16 Mar 2025 19:58:13 GMT
No. 25654558
>>25654579
>>25654543
that's the point, mein chatty friend
let the fucking canadian reply to this fucking thread
Bernd
Sun, 16 Mar 2025 20:15:26 GMT
No. 25654679
>>25654833
>>25654334
>like what? and plus, local governments are short on cash at the moment, some of the welfare related policies are hard to truly implement
Like announced in OP. I don't know how all transfers are to work but I doubt it would depend heavily on local governments financing everything or it's obviously doomed to fail
>like what?
There was lots of talk of following Chiles style pension policies in the 2000s and generally being more neolib.
>do you know truly understand what you were saying or assuming?
Well deflation is universally understood as bad in western establishment economics and source of driving productive economy into insolvency and slowdown. Xi keeps saying otherwise but he was anti-welfarist and didn't like the incentive structure before so who knows
Bernd
Sun, 16 Mar 2025 20:33:57 GMT
No. 25654833
>>25654679
>Like announced in OP
I can hardly find that, but I read the original article here:http://politics.people.com.cn/n1/2025/0316/c1001-40439869.html
some of the measures fit your description though
>I doubt it would depend heavily on local governments
we'll see, but many policies need local governments to implement properly
>There was lots of talk of following Chiles style pension policies in the 2000s
new to me, maybe I wasn't paying attention back then, you could bring up deng instead of pinochet if you want to emphasize the economy policy was neolib back then
>but he was anti-welfarist
true, but I don't think he's pro deflation
economy policies didn't change THAT much from what I observed, the need to shift from supply oriented economy to consumption oriented economy has been emphasized for quite a long time