29 Jan 2019

Crosby Research: Macro: 10 Ministries together launching consumption stimulus policy

As widely expected, 10 government ministries together announced today policies to stimulate domestic consumption with focuses on autos and household appliances, particularly on products with energy efficiency.

This was flagged 20 days ago when an official from the NDRC had highlighted such policy direction without the provision of any policy details. This latest announcement provides further details and reiterated the needs to support consumption with government subsidies and, in particular, highlights the markets for vehicles and household appliances for such support.