The Chinese government is determined to stimulate a recovery in consumption to drive the economy and increase imports, CCTV reported on Saturday.
Over the weekend, Premier Li Keqiang chaired a cabinet meeting, where they discussed efforts to promote economic growth following the country's reopening from the Covid-19 lockdown.
During the meeting, the cabinet also promised to speed up the launch of foreign investment projects, maintain the stability of the yuan currency, facilitate cross-border travel and help companies participate in domestic and foreign trade fairs.
In addition to that, support for the private sector and the digital platform economy was also emphasized which had previously been affected by a series of regulatory rules over the past few years.
In the meantime, cabinet members also discussed efforts to support farmers to start spring planting by giving subsidies.
Tax authorities reported on Saturday that consumption jumped 12.2% during the week-long Chinese New Year holiday that ended on Friday, from the same period last year.
This indirectly reflects the rebound in consumption after the easing of Covid-19 restrictions was implemented across the country.
