China's Ministry of Commerce presented on Tuesday a new set of policies aiming to boost consumption in the country. The new package aims to support household consumption of home appliances, furniture, textiles, and decorations.
In the announcement, the government added that consumers are encouraged to upgrade their houses with State support and business promotions.
Financial institutions are also asked to give broader support to consumers and firms to increase household consumption. The step comes a day after the country logged a worse-than-expected GDP figure at 6.3% for the second quarter.
