More stimulus needed for consumers

The increasingly stronger rebound of the Chinese economy has triggered speculation that the country may exit the massive stimulus package earlier than expected. While the central government has recently stressed the need to maintain policy continuity and stability, it is a moot question whether most fiscal incentives that Chinese consumers enjoy this year will be extended into next year.

The uncertainty about the global recovery as well as potential overcapacity at home do justify careful consideration by policymakers before they roll out next year's economic work plan sometime next month. But that does not mean that they will not come up with an endorsement for a stimulus to further boost consumption.

If the country is to balance its economic growth away from excessive dependence on investment and exports, policymakers should try every means to unleash the potential of Chinese consumers.