China announces plan to 'vigorously boost consumption' in bid to shore up economy

China announced a “Special Action Plan to Boost Consumption” to stimulate domestic consumption in the second largest economy, aiming to increase income and reduce burdens to enhance consumption capacity. The plan, issued by the General Office of the Central Committee, includes measures to stabilize the stock market and develop bond products for individual investors. Following the announcement, China’s CSI 300 index and Hong Kong’s Hang Seng index both saw slight gains of about 0.1% on Monday.

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