Economist: Consumption growth requires social security reforms

Continued consumer goods stimulus packages and, potentially, deeper social security reform that is likely to start taking shape by the end of the year, will boost China’s domestic consumption in 2025, Robin Xing, chief China economist at Morgan Stanley said in an interview with CGTN. A more sustainable consumption growth in China requires increased social security benefits, Xing added when analysing the key takeaways from this year’s government work report.