China unveils measures to spur consumption in bid to drive economic growth

中国出台刺激消费措施,以期推动经济增长

The Beijing Hour

新闻

2025-03-17

59 分钟
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Beijing has announced a slew of measures to boost consumption, as it moves to make domestic demand the main engine and anchor of economic growth (05:01). The Houthi group in Yemen has vowed retaliation after the latest U.S. strikes on its targets (12:00). Wall Street remains on edge over fears of a recession and the growing uncertainty stemming from the Trump administration (24:34).
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  • Get the unmissable news stories of the day.

  • This is the Beijing Hour, examining the events that impact and shape China and the rest of the world.

  • This is the Beijing Hour, one hour of news and information brought to you every weekday.

  • Now, here's your host, Shane Bigham with you on this Monday, March 17, 2025.

  • You're listening to the Beijing Hour, coming to you live from the Chinese capital.

  • On today's program, China's economy shows steady growth through the first two months of the year.

  • The Houthi group in Yemen's vowed retaliation after the latest US Strikes against the militants.

  • Wall street remains on edge over fears of a recession in the US Economy.

  • In business, sales numbers for new and used homes in major Chinese markets.

  • And today we have part 10 of the yellow River Mosaic series, telling stories of people whose lives are intertwined with the famous Chinese waterway.

  • And today we look at the fishing industry in the mouth of the Yellow River.

  • Now checking the day's top stories.

  • China's economic performance remains steady in the first two months, driven by rapid growth in the industrial and service sectors.

  • Key indicators of the National Bureau of Statistics show that China's value added industrial output rose 5.9% and the service sector logged an annual growth of 5.6%.

  • Private sector has grown by more than 6%.

  • Fu Linghui is a spokesperson for the National Stats Bureau.

  • On the demand side, with the expansion of the trade in policy and consumption during the Spring festival, the market saw a recovery in sales and service consumption.

  • The retail sales of consumer goods climbed 4% year on year in the first two months of 2025.

  • That's half a percentage faster than the growth rate of 2024.

  • Domestic tourist trips during the Spring Festival increased by 5.9% year on year.