LOOSENING THE PURSE STRINGS

The National Development and Reform Commission (NDRC), along with 22 other central ministries and commissions, issued a guideline to promote domestic consumption in mid-March. Following the guideline, several local governments at various levels, from the district to the provincial, have issued their own instructions to bolster spending and consumption.

“The pandemic has brought some impact on consumption, so expanding residents’ consumption, promoting consumption recovery and unleashing consumption potential are the key measures to offset the impact and stimulate the economy,” Ha Zengyou, Director of the Department of Employment and