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China’s post-coronavirus consumer spending ‘not enough’ to drive growth, says prominent economist

Summary:
[unable to retrieve full-text content]China should accelerate infrastructure investment this year as consumption is not at a high enough level to drive growth, a prominent Chinese economist said on Monday.Boosting domestic consumption, which has been hard hit by the coronavirus pandemic, is an economic priority in China’s 14th five-year plan for 2021-25 and its 2035 vision.Household spending is expected to bounce back once the pandemic is over, and China’s gross domestic product (GDP) is projected to rise about 20 per cent year on…

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[unable to retrieve full-text content]
China should accelerate infrastructure investment this year as consumption is not at a high enough level to drive growth, a prominent Chinese economist said on Monday.Boosting domestic consumption, which has been hard hit by the coronavirus pandemic, is an economic priority in China’s 14th five-year plan for 2021-25 and its 2035 vision.Household spending is expected to bounce back once the pandemic is over, and China’s gross domestic product (GDP) is projected to rise about 20 per cent year on…

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