Reported about 9 hours ago
China's consumer stimulus program, aimed at revitalizing the economy through subsidies for select goods, has led to a shopping frenzy, boosting retail sales growth significantly. However, regions like Henan and Chongqing have run out of funds, forcing them to suspend subsidies. While the program has shown effectiveness in driving sales, economists caution that sustainable measures are needed for long-term recovery, as the reliance on subsidies raises concerns about Beijing's fiscal limitations.
Source: YAHOO