China again vows policy support for economy as slowdown bites

From food vendors to property sellers, many struggle in absence of fiscal stimulus

20230804 china economy

A man walks in the Central Business District of Beijing in July. In recent weeks, Chinese officials have talked up a slew of measures to promote private investment and encourage consumption. © Reuters

CK TAN, Nikkei staff writer

SHANGHAI -- China's government on Friday pledged to take steps to enhance self-sufficiency across the country's high-tech supply chain, the latest in a string of promises aimed at boosting confidence in the slowing economy. But from food vendors to real estate salespeople, many bemoan a lack of concrete stimulus as they report difficult conditions on the ground.

"Our next step of action is to strengthen and improve the real economy," Yuan Da, an official at the National Development and Reform Commission, vowed on Friday. The commission is in charge of implementing macroeconomic policy. It was not immediately clear what shape the tech measures would take.

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