While the first phase of China’s stimulus plans involved massive infrastructure projects and tax relief measures for manufacturers, the country’s leaders have now begun speaking with greater urgency on the need to encourage consumption, says Jing Ulrich, chairman, China equities at JPMorgan.
Recently, Premier Wen Jiabao said bluntly that the trick to spurring consumer spending was not to engage in slogans, but to put money in people’s pockets.
