Two economists said at the Caixin Summer Summit that current subsidies are insufficient, calling for stronger central government support
Chinese economists Yu Yongding and Huang Yiping called for stronger fiscal stimulus to boost domestic demand and consumer confidence. Weak Chinese demand signals production pressures on tech supply chains and timing risk for infrastructure outsourcing decisions.
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Yu Yongding, a member of the Chinese Academy of Social Sciences (middle), and Huang Yiping, dean of the National School of Development at Peking University (right), at the Caixin Summer Summit in Hangzhou on Wednesday. Photo: Caixin
The announcement came in the same week that Beijing’s top leadership called for greater efforts to unlock domestic demand.
Beijing will also boost stimulus to support families and further back emerging industries, finance minister says.
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