Expert expects China’s consumption to pick up in 2025 thanks to strong policy support

China has announced a slew of measures to boost domestic consumption in an action plan issued on Sunday. The plan consists of eight major sections. On the demand side, the plan aims to increase the incomes of urban and rural residents, and launch new supportive measures to strengthen people's consumption power. While on the supply side, it stresses enhancing service consumption quality, upgrading big-ticket consumption, and improving consumption quality. The plan also vows to optimize the consumption environment, streamline restrictive measures to provide a sound environment for consumers, and urges governments to strengthen consumption-inducive policies. Qu Qiang, fellow of Belt and Road Research Center at Minzu University of China, expects consumption to pick up in the rest of 2025.