ABSTRACT
In order to expedite the growth of domestic demand, China’s government has continued to introduce a steady stream of measures to encourage consumption. The government continues to hope that if it can get people to spend ‘furiously’, it can make consumption the new engine for China’s growth. It is well aware that consumption only accounts for about half of China’s GDP compared with twothirds in most developed economies and that ‘for every yuan the government can get the consumer to spend boosting GDP, that’s one less yuan it has to spend’.1
