For the fourth quarter, one concrete source of support is the latest allocation of trade-in funding. The National Development and Reform Commission said on Sept 30 that a fourth batch of 62.5 billion yuan in ultra-long special treasury bond funds had been allocated to local governments, bringing the full-year allocation for consumer goods trade-ins to 250 billion yuan. The funding provides a basis for continued subsidies through the year-end shopping season, which could be a strong catalyst for accelerated consumption, experts added.

　　Though the full third-quarter figures are yet to be released, latest available data from the National Bureau of Statistics showed that retail sales rose 1.1 percent year-on-year in the first eight months, with growth of 0.4 percent in August. "A more durable consumption expansion will depend on improvements in employment and income expectations, alongside businesses' ability to meet changing consumer needs," Liu said.

　　masi@chinadaily.com.cn

Young visitors browse and purchase souvenirs at the Sanfang Qixiang historical and cultural district in Fuzhou, Fujian province, on Sunday. XIE GUIMING/FOR CHINA DAILY