China launches "action plan" to spur consumption, lock in retail upswing

China launches "action plan" to spur consumption, lock in retail upswing

China’s government has mapped out an “action plan” that calls for supporting employment and the stock market to stimulate domestic consumption, but the move generated little immediate excitement among investors. After the plan was unveiled on March 16, the CSI 300 Index, a gauge of Chinese stocks listed on mainland exchanges, opened 0.35% higher next morning. It finished the day 0.24% lower, however. The index had gained 2.43% on March 16 and wa…