China's Economic Strategy Set to Emphasize Consumer Spending, PBOC's Pan Insists

In a pivotal shift towards bolstering the nation’s economic recovery, the People's Bank of China (PBOC) has articulated a renewed focus on stimulating consumer demand. PBOC Governor Pan Gongsheng emphasized that cultivating a robust consumption environment is essential for sustained economic growth as the country seeks to transition away from its traditional reliance on exports and investment-driven growth. This shift is seen as critical to addressing ongoing economic challenges that China currently faces.

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