March 13, 2020 / 3:02 AM / a month ago

China ramps up efforts to boost consumption as virus hurts economy

BEIJING (Reuters) - China’s state planner on Friday announced guidelines to boost residents’ property income and improve consumer market supply, in an effort to promote consumption as the coronavirus crisis takes a toll on the economy.

China will reduce import tariffs on consumer goods and encourage regions that have car plate quota restrictions to increase quota, the National Development and Reform Commission said in a statement on its website.

Reporting by Lusha Zhang and Huizhong Wu; Editing by Himani Sarkar

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