xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
Policy

China mulls 20 measures to boost consumption

August 28, 2019


Abstract : China will ease restrictions on car purchases to support auto sales as part of its policy package announced Tuesday to boost the country's consumption.

BEIJING, Aug. 27 (Xinhua) -- China will ease restrictions on car purchases to support auto sales as part of its policy package announced Tuesday to boost the country's consumption.

Regions with limits on vehicle purchases should roll out measures to relax or lift the restrictions after taking into account their respective condition and support the purchase of new energy vehicles, according to a guideline issued by the State Council.

The guideline outlined 20 measures to support consumption, including applying new technologies to promote the circulation of products, improving infrastructure of commercial streets and accelerating the development of chain convenience stores.

While China's domestic market has seen stable expansion, the country still faces many challenges in terms of lack of innovation for traditional retailers and inadequate supply of commodities and services, the State Council said in a statement.

The guideline aims to tap China's consumption potential and better meet the demand of Chinese consumers, the statement said.

The country will support the transition of traditional department stores and large-scale stadiums into commercial complexes and fitness as well as recreation centers, according to the guideline.

Efforts should be made to support e-commerce in the country's rural areas and help farmers to sell agricultural products to the cities.

Authorities should make policies to help export-oriented firms to expand in the domestic market, while imports of high-quality foreign goods will be encouraged through channels such as cross-border e-commerce.

Incentives should be introduced to support consumers to exchange old home appliances and electronics for more green and smart alternatives, the guideline said.

Other measures also include support for the "nighttime economy" and "holiday economy", as well as fiscal and financial policies to expand consumption.

Consumption is playing an increasingly important role in China's economy, contributing as much as 60.1 percent to the country's GDP growth in the first half of the year.

Retail sales of consumer goods rose 8.3 percent year on year in the first seven months of the year, down from an increase of 8.4 percent registered in the January-June period, official data showed.

Scan the QR code and push it to your mobile phone

Keyword: China-consumption measures

Reading:

Thailand ready to work with AIPA to promote concrete results in various affairs in ASEAN, says Thai PM

Thai Prime Minister urges Ministry of Commerce to curb soaring prices of glutinous rice

(Diagram)China unveils plan for six new pilot FTZs

Emerging technologies fuel intelligent logistics transformation in China

Xinhua Headlines: China delivers greater reform, opening up with six new FTZs

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial