China planning to promote AI and domestic property consumption to fuel its slumbering economy

Eight-part plan

China has unveiled plans to kickstart its domestic consumption via a “special consumption" agenda, focused on raising incomes and nurturing emerging sectors, such as AI.

Issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, the eight-part plan will take a "holistic approach" to simultaneously boost income growth, a quality enhancement of the services industry, ‘big-ticket' consumption upgrading, and "consumption environment improvement". Deep Dive: Investors cautiously confident on China outlook amid trade war 2.0 The government said it wants to "emphasise both traditional consumption sectors", such as housing and automobiles but it is also focused on cultivating emerging sources of...