China Unveils Initiative to Boost Consumption and Stabilize Economy

China has unveiled a "Special Action Plan to Boost Consumption" as a strategy to stimulate domestic demand in the world's second-largest economy. The plan is designed to raise income levels, alleviate financial burdens, and foster domestic tourism, with a particular emphasis on winter destinations. China's focus on bolstering domestic demand comes in response to potential challenges in overseas markets and the economic ramifications of US tariffs.