The Beijing government is making yet another attempt to stimulate domestic consumer spending to counteract the decline in manufactured exports. The State Council announced last week it will boost support for industries such as health care, senior citizen care, tourism and sports and catering. The government said this is the first time consumer services have been specifically targeted with such aids as land price support and lowered business transaction fees. However, there have been unsuccessful efforts for over a decade to reverse the low and declining proportion of consumer spending in the economy.
