Special Action Plan for Boosting Consumption. 受权发布丨中共中央办公厅 国务院办公厅印发《提振消费专项行动方案》

On Sunday the General Office of the Communist Party of China Central Committee and the General Office of the State Council issued the “Special Action Plan for Boosting Consumption 提振消费专项行动方案”. I have translated the full plan below.

The plan has eight major sections and thirty items, and while some of the initiatives are interesting there is no announced additional funding for any of them, beyond what was detailed at the recent NPC. The plan is not that surprising and has a lot of continuity with both the Third Plenum last summer and the December Central Economic Work Conference.

There will be a press conference at 3PM Monday with Li Chunlin, Vice Chairman of the National Development and Reform Commission, along with relevant officials from the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Commerce, the People's Bank of China, and the State Administration for Market Regulation, to introduce the plan.

The eight sections are:

Actions to Promote Income Growth for Urban and Rural Residents 一、城乡居民增收促进行动

Actions to Support and Safeguard Consumption Capacity 二、消费能力保障支持行动

Actions to Enhance Service Consumption and Benefit the Public 三、服务消费提质惠民行动

Actions for Upgrading and Renewing Large-Scale Consumption 四、大宗消费更新升级行动

Actions to Enhance Consumption Quality 五、消费品质提升行动

Actions to Improve the Consumer Environment 六、消费环境改善提升行动

Actions to Optimize and Remove Restrictive Measures 七、限制措施清理优化行动

Improving Support Policies 八、完善支持政策

The plan: