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China to boost credit support to consumer sector - regulator
China will guide banks to boost credit in the consumer service industry, its financial regulator said on Thursday, as authorities seek to boost a flagging post-pandemic economic recovery. "Residents' consumption capacity is insufficient and their willingness to spend is not strong, consumption of big-ticket items is weak," an official from China's National Financial Regulatory Administration said in a briefing. The foundations of the recovery of consumption activities are not particularly solid, and structural problems still exist, the official said. The comments came after China pledged to improve the private ... (full story)