China will take steps to revive consumption by boosting people’s incomes, according to the official Xinhua News Agency, as part of a plan that adds to recent pledges by the government to support demand in an economy threatened by Donald Trump’s tariffs.

China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump.

Investors will be parsing through a swathe of data points in China, including industrial production, urban investment, retail sales and urban unemployment rate.

China has announced a plan to revitalise domestic consumption as President Xi Jinping’s government battles to reverse weak confidence and deflationary pressures in the world’s second-largest economy.

Beijing’s leaders are ordering fiscally strapped local governments to spend more to help workers, consumers and businesses.