Key Points
- Chinese Premier Li Qiang last week delivered an annual report on government work that named boosting consumption as the top task for the year ahead.
- The state planner calls for efforts to “increase spending power” and encourage the development of products and scenarios that would encourage consumers to spend. But it’s not a call to support all kinds of shopping.
- Economists have long called for a structural re-calibration of the income distribution system and policies seen necessary to stimulating domestic consumption in a meaningful way.
