China's New Financial Blueprint to Boost Domestic Consumption

China has unveiled new guidelines aimed at leveraging financial instruments to stimulate domestic consumption. These measures are part of a comprehensive strategy to boost employment and increase household incomes, according to a release on Wednesday.

The guidelines, which were drafted by six government departments and announced by the central bank, propose supporting eligible companies across the consumer industry chain to secure funding through stock market listings and other financial channels.

Additionally, the government will promote the issuance of consumer-focused exchange-traded funds (ETFs) and back eligible projects in issuing Real Estate Investment Trusts (REITs) in the infrastructure sector. These moves are designed to ramp up domestic demand as China seeks to stabilize its economy.

(With inputs from agencies.)