China just unleashed broad stimulus measures to fire up the economy — but analysts think these have failed to live up to expectations
, China rolled out a series of plans to boost local consumption to charge its flagging economy — but these may not be enough, say analysts.
On Monday, the country released a plan targeting the automobile, real estate, and services sectors that aim to"give full play to the fundamental role of consumption in economic development," according to Insider's translation of The measures to boost demand include improving electric vehicle infrastructure, expanding the supply of affordable rental housing, and getting local governments to cut admission fees at attractions. No further details about the measures were available as of press time.reported Monday."It's difficult to stimulate the demand side with policies," Bruce Pang, the head of research and chief economist for Greater China at Jones Lang LaSalle told.
The state planner's strategy followed a meeting of the country's top leaders last week during which they pledged to boost stimulus measures as the economy faces a"tortuous" recovery, according to Insider's translation of the
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