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Policy

China likely to roll out more policies in Q4 to promote domestic consumption

October 09, 2019


Abstract : China is expected to roll out more policies in the fourth quarter of the year to promote domestic consumption and stabilize investment, the Xinhua-run Shanghai Securities News reported on Wednesday. 

BEIJING, Oct. 9 (Xinhua) -- China is expected to roll out more policies in the fourth quarter of the year to promote domestic consumption and stabilize investment, the Xinhua-run Shanghai Securities News reported on Wednesday.

Earlier, ministries and departments such as the National Development and Reform Commission (NDRC), China's top economic planner, conducted intensive research on policies mainly eyeing the tourism and cultural consumption.

As early as mid-August, Meng Wei, spokesperson of the NDRC, said that the central authorities have successively issued a series of policy documents to promote consumption. Many local governments have also rolled out a number of targeted measures. In the fourth quarter, more efforts will be made to promote the domestic consumption.

Before China's National Day, Ning Jizhe, deputy head of the NDRC, said that China will make efforts to promote consumption upgrade, and actively propel the replacement of old automobiles, home appliances and electronic consumer goods with the new.

In terms of stabilizing the investment, Ning also revealed that the authorities have appropriately reduced the minimum capital ratio of infrastructure projects, and taken measures to stimulate the vitality of private investment and accelerate project construction.

It is reported that the NDRC is working with other departments to compile the transportation plans and reserve a number of major projects such as railways.

At the beginning of September this year, relevant ministries and provinces began a round of local major investment project investigation to sort out major projects and improve the major project libraries. A large number of major projects with start-up conditions have been already launched and accelerated. (Edited by Hu Pingchao, [email protected])

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Keyword: consumption China economy

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