麻豆中文字幕丨欧美一级免费在线观看丨国产成人无码av在线播放无广告丨国产第一毛片丨国产视频观看丨七妺福利精品导航大全丨国产亚洲精品自在久久vr丨国产成人在线看丨国产超碰人人模人人爽人人喊丨欧美色图激情小说丨欧美中文字幕在线播放丨老少交欧美另类丨色香蕉在线丨美女大黄网站丨蜜臀av性久久久久蜜臀aⅴ麻豆丨欧美亚洲国产精品久久蜜芽直播丨久久99日韩国产精品久久99丨亚洲黄色免费看丨极品少妇xxx丨国产美女极度色诱视频www

China Focus: China unveils policy package to fuel domestic consumption

Source: Xinhua| 2019-01-29 14:04:13|Editor: zh
Video PlayerClose

BEIJING, Jan. 29 (Xinhua) -- China unveiled a raft of measures on Tuesday to secure stable domestic consumption growth in 2019.

The policy plan, jointly released by 10 ministry-level authorities including the National Development and Reform Commission, will inject new impetus into automobile sales, urban and rural consumption upgrades, spending on new products and services, and improvement in the consumption environment.

"The slowdown in auto sales was the main contributor to weaker consumption growth last year," said Liu Yunan, an official with the National Development and Reform Commission. "Auto consumption, with its heft, is highlighted in our targeted measures."

The country sold 28.08 million autos last year, down 2.76 percent year-on-year, data from the China Association of Automobile Manufacturers showed.

The drop accounted for 66.7 percent of the total retail sales decline in 2018, Liu told a news conference Tuesday, adding that the country's car market still had much untapped potential.

China will promote auto replacement, especially in rural areas, accelerate development of the second-hand car market, and adjust subsidies to galvanize sales of new energy vehicles (NEVs), according to the plan.

As for boosting urban consumption, authorities will promote the renewal of old departments, development of the real estate rent market as well as child and elderly care services.

Rural areas will see faster development of online shopping, e-commerce and tourism, and will launch product quality campaigns to improve market environment.

Policies will also increase the supply of high-quality products and services, such as 5G communication and 4K ultra high-definition video, and improve infrastructure such as parking lots and charging stations for NEVs.

Within five years of its commercial deployment in China, 5G will drive an economic output of 10 trillion yuan (about 1.5 trillion U.S. dollars) and create 3 million new jobs, according to some estimates, said Dong Dajian, an official with the Ministry of Industry and Information Technology.

To strengthen residents' spending power, measures such as special individual income tax deductions will be fully implemented.

Consumption has played an increasing role in China's economy, contributing 76.2 percent of GDP growth in 2018, up significantly by 18.6 percentage points from a year ago, data from the National Bureau of Statistics showed.

With one of the world's largest markets, China should continue releasing its potential to expand its domestic market, improve its consumption environment and boost consumer spending, according to a statement released after the annual Central Economic Work Conference.

"We expect consumption to remain the largest driver of the economy in the next decade," said Ding Shuang, an economist of the Standard Chartered Bank, citing consumption to continue to grow faster than investment amid the ongoing trends of urbanization, aging and a rising middle-income group demanding quality goods and services.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001377839261