Part 4/9:
Experts note that despite the acknowledgment of the need for demand-driven growth, concrete policies are still scarce. One of the proposed measures includes raising minimum wages and enhancing support for education and childcare, addressing long-term demographic and economic concerns. Attendees have also promoted inbound tourism by relaxing visa requirements, targeting foreign visitors. However, analysts are skeptical about the immediate impact of these initiatives.
According to Su Chang Gang of Stanford University's Center on China's Economy and Institutions, the government's measures continue to emphasize supply-side actions rather than direct consumer stimulation. This observation aligns with broader concerns about the effectiveness of the policies.