Time for policy to focus more on consumption

The country's sputtering export machine has obviously caught the full attention of Chinese policymakers who rolled out supportive measures on Monday.

However, similar government efforts to help domestic consumers, which would be more cost-efficient and effective in sustaining China's overall economic growth, are still in short supply.

For the world's second-largest economy to steadily press ahead with its transformation from expansion led by exports and investment toward growth driven by consumption and services, it is necessary for the Chinese authorities to entice consumers to spend more.