Retails sales, a barometer of consumer spending in China, grew by only 7.2 per cent in April, sharply lower than March’s level of 8.7 per cent and 8.2 per cent for 2018, according to China’s official data. Photo: Reuters

China unveils 5G and NEV spending action plan to boost consumption to cushion US trade war impact

  • Plan would aim to boost the sales of cars, home appliances and consumer electronics including 5G smartphones after sharp drop in retail sales in April
  • Restrictions on car registrations would also be relaxed after sales dropped 14.6 per cent in April from a year earlier
Topic |   China economy

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Retails sales, a barometer of consumer spending in China, grew by only 7.2 per cent in April, sharply lower than March’s level of 8.7 per cent and 8.2 per cent for 2018, according to China’s official data. Photo: Reuters
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US Treasury Secretary Steven Mnuchin and China’s central bank chief Yi Gang are expected to meet in Fukuoka this weekend. Photo: Handout

Will Steven Mnuchin’s meeting with China’s central bank chief at G20 help break US-China trade impasse?

  • The scheduled meeting with People’s Bank of China governor Yi Gang would be the first face-to-face discussion since negotiations collapsed a month ago
  • It could provide an indication of whether Xi Jinping and Donald Trump will meet at the G20 leaders summit in Osaka later this month
Topic |   US-China trade war

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US Treasury Secretary Steven Mnuchin and China’s central bank chief Yi Gang are expected to meet in Fukuoka this weekend. Photo: Handout
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