China is scrambling to roll out more measures to boost consumer spending as it strives to offset the worst effects of an escalating trade war with the United States that threatens to rock its export sector.
The southern island of Hainan is holding a major consumption expo in an effort to attract high-spending foreign shoppers on Sunday, while local authorities across the country launch additional measures to encourage domestic consumers to open their wallets.
The China International Consumer Products Expo, the largest premium consumer goods exhibition in the Asia-Pacific region, opened on Sunday at a time when domestic consumption is becoming ever more crucial amid the intensifying global tariff war.
The six-day event, billed as China’s only national-level expo dedicated to consumer products, also came as local governments offered more stimulus for consumer spending as a main strategy to shore up the slowing economy.
Chinese policymakers need to take further action to “strengthen people’s confidence and willingness to spend”, the state-owned media outlet Economic Daily said in a commentary on Monday.
“When that confidence translates into bustling shopping scenes and pro-consumption policies are felt at the grass roots, China’s economy will gain greater resilience and vitality,” it said.
Over 4,100 brands from more than 70 countries and regions are taking part in the expo, representing a range of premium and emerging consumer sectors including fashion, digital, health and green consumption, state-run news agency Xinhua reported.
