💨 Abstract

China's State Council unveiled a special action plan to boost domestic consumption, aiming to increase residents' income and establish a childcare subsidy scheme. The plan is in response to weakening consumer demand due to COVID-19 disruptions and a property slump, and aims to reduce the economy's reliance on exports and investment. The plan includes measures to improve workers' rights, boost farmers' incomes, and promote tourism.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖