China GDP Annual Growth Rate

China released new guidelines on Wednesday to stimulate consumption using financial tools, aiming to support employment, raise household incomes, and spur the broader economy. Jointly drafted by six government agencies and published by the central bank, the plan calls for supporting eligible consumer-sector firms in raising funds via IPOs, bonds, and other channels. Financial institutions are urged to improve services, innovate credit products, and manage risks effectively to meet diverse consumer financing needs. The central bank pledged to “guide financial institutions” in strengthening services from both supply and demand sides and to use tools like reserve requirements, relending, rediscounting, and open market operations to ensure liquidity and lower financing costs. Further, the guidelines encourage the launch of consumer-focused ETFs and support REITs for qualified infrastructure projects. Boosting employment and incomes to restore consumer confidence is also a key focus.