The Cabinet of Prime Minister Shinzo Abe on Tuesday adopted a set of economic reform strategies to boost mid- to long-term economic growth, including attracting more foreign investors to prop up stock prices.
The Japan Revitalization Strategy — the "third arrow" of "Abenomics" — includes a pledge to cut corporate tax, welcome more foreign workers, help working women and shake up the portfolio of the Government Pension Investment Fund, the world's largest.
Analysts have generally welcomed dozens of deregulations and subsidies included in Abe's growth strategy, in particular the goals of reducing the corporate tax rate and changing GPIF policy to encourage more domestic share purchases.