China details measures to boost consumption for upcoming holiday

BEIJING - China's top economic planner has released a notice aimed at boosting consumption as the Spring Festival holiday approaches while maintaining precise COVID-19 control.

The notice has been issued to cater to residents' growing consumption demand and unleash the potential of the domestic market, as part of efforts to propel the economy to achieve a stable start in the first quarter, according to the National Development and Reform Commission.

Multiple measures should be taken to meet residents' festive needs, including ensuring the supply of daily necessities, providing more contactless services and helping senior citizens enjoy convenient transportation to reunite with their families, said the notice.

It also set out policies to upgrade online festival consumption and expand consumption in rural areas.

Consumption related to the ice-snow industry, as well as culture and entertainment, should be encouraged, the notice said, adding that the vitality of the smart retail sector should be further supported.

In 2022, China will utilize its microeconomic policies to stimulate the vitality of market entities and deepen the supply-side structural reform with a focus on smoothing the circulation of the national economy, said the tone-setting Central Economic Work Conference in December 2021.