China has a plan to boost consumption, but will it work?

China's consumption took a hit during the Covid-19 pandemic in 2020-2023 and has yet to fully recover. ST PHOTO: AW CHENG WEI China has a plan to boost consumption, but will it work? – China unveiled a much anticipated plan on March 16 to invigorate consumption by boosting jobs and strengthening the social safety net, at a time when joblessness is creeping up and a property recovery is fizzling out. Analysts are reserving judgment about the plan until more details are out. Boosting consumption is a top economic priority for China in 2025 as the world's second-largest economy struggles to…