China has rolled out a new plan to cultivate three trillion-yuan consumer markets by 2027, stepping up efforts to revitalize domestic demand as economic growth faces headwinds.
The Ministry of Industry and Information Technology, the National Development and Reform Commission, and four other government bodies issued the implementation guidelines on Tuesday. The directive aims to establish three consumption sectors worth 1 trillion yuan ($141 billion) each and 10 hotspots worth 100 billion yuan each by 2027.
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