Demand growth: Shoppers crowd a path looking at offerings from shops in Beijing. The growth in retail sales, a key gauge of consumption, recovered to the fastest level of the year at 5% year-on-year in November, compared with 4.3% the month before. — Bloomberg
BEIJING: Beijing is likely to prioritise boosting domestic demand and cementing the acceleration in consumer spending as it sets out the major economic tasks for 2021, officials and experts forecast.
Unlike the stimulus measures targeted at the property market in some previous economic cycles, the upcoming demand-side reform is supposed to roll out long-term mechanisms to expand the middle-income population, they said before a key economic meeting set to chart the course for next year.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
