BEIJING, April 19 (Reuters) – China is formulating plans to boost the recovery and expansion of consumption, the state planner’s spokesperson Meng Wei said on Wednesday, signaling officials are worried about weak demand despite a sharp rebound in retail sales.
China’s economy grew at a faster-than-expected pace in the first quarter, as businesses and consumers came out of crippling pandemic disruptions, although headwinds from a global slowdown point to a bumpy ride ahead.
The National Development and Reform Commission (NDRC) pledged to promote a sustained recovery in consumption.