On July 28, the General Office of the State Council circulated a policy guidance document titled Measures to Restore and Expand Consumption (关于恢复和扩大消费的措施).

Drafted by the National Development and Reform Commission, the document outlines measures across 20 areas to boost economic consumption. Provincial governments and central government agencies have been tasked with implementation.

This document affects various industries and underlines the importance of expanding domestic demand in Beijing's economic strategy.

Below is the outline of the document, followed by a summary:

I. General Requirements (总体要求)

II. Stabilise Big-Ticket Item Consumption (稳定大宗消费)

III. Increase Service Consumption (扩大服务消费)

IV. Facilitate Rural Consumption (促进农村消费)

V. Expand New Types of Consumption (拓展新型消费)

VI. Improve Consumption Facilities (完善消费设施)

VII. Improve Consumption Environment (优化消费环境)

I. General Requirements

• Improve the synergy between the market and the government.
• Better integrate improving supply with expanding demand.
• Better integrate improving development quality and fostering innovation.

II. Stabilise Big-Ticket Item Consumption

1. Improve car purchasing and usage management

• Ease local restrictions on new car purchases; no further restrictions should be allowed.
• Remove restrictions on second-hand cars and expand the second-car market.
• Promote car replacement consumption.
• Increase the number and improve the conditions of urban parking spaces.

2. Expand the consumption of new energy vehicles

• Support the building of charging infrastructures and the use of using of new energy vehicles in rural areas, and optimise the purchase tax exemption.
• Encourage battery swapping to meet the charging needs of travellers.
• Optimise public charging infrastructure in residential areas and reduce electricity running costs.

3. Support for housing demand

• Ensure the delivery of new homes to purchasers, improve the basic housing security system and support policies, and solve housing problems for urban residents, youth, etc.
• Support the steady renovation of old residential areas.
• Support the renovation of urban villages in big cities.
• Support the improvement in the quality and safety of rural housing.

4. Increase spending on home upgrades and furnishing, and electronics