日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Domestic purchases boost economy

By Ren Xiaojin and Zhong Nan | China Daily | Updated: 2019-07-04 09:29
Share
Share - WeChat
Customers buy electric home appliances at a supermarket in Fuyang, Anhui province. [Photo by Wang Biao/For China Daily]

Policies to enhance entrepreneurship, employment and consumption are encouraging people to spend

Consumption will continue to be the strongest driver of China's economic growth and the country's regulators are looking at ways to further liberalize its potential.

Immediately after the three-day Dragon Boat Festival at the beginning of June, during which, according to China's Ministry of Culture and Tourism, Chinese tourists spent 39.3 billion yuan ($5.72 billion) on domestic travel, the country's savvy internet users were busy arranging their shopping carts for the online sales day on June 18.

"It is the best time to stock up on those daily necessities of life for the whole year," said Hong Xin, a 28-year-old office worker in Suzhou, Jiangsu province, who had her eye set on a toilet paper and washing liquid value deal on Tmall, one of the country's biggest e-commerce platforms.

She said the sales day was not just about saving money, but also about enjoying better products. "For example, wet toilet tissue is quite expensive if you buy it in the supermarket one pack at a time, but it is much more affordable during the sales day if you buy in bulk," she said.

Consumers like Hong, who have a strong willingness to spend to make their lives easier, are adding impetus to national consumption, which achieved an eye-catching performance in the first quarter of 2019, according to Nielsen, the New York-headquartered information, data and measurement company.

Nielsen's report said that in the first quarter, China's consumer trend index, which measures perceptions of local job prospects, personal finance and willingness to spend, was close to a historical high.

Consumption has been the top driver of economic growth for six years in a row. In 2018, it contributed to 76.2 percent of economic growth, 18.6 percentage points higher than 2017, and it is expected to be a major force again this year.

"The government has been continuously deepening the reform of corporate taxes and fees to stimulate enterprises, as well as implementing policies to stimulate employment and encourage entrepreneurship," said Andy Zhao, president of Nielsen China. "Meanwhile, personal tax reform has also taken place ... consumers' willingness to spend has been further encouraged."

From home electronics to new energy cars, authorities have introduced policies to further stimulate domestic consumption.

New energy vehicles are displayed at an international auto expo in Kunming, Yunnan province, on June 27. [Photo/China News Service]

In early June, the National Development and Reform Commission, the Ministry of Commerce and the Ministry of Ecology and Environment released an action plan to accelerate the upgrade of consumption goods and resource recycling, which addressed the production, application and innovation of new energy vehicles, green home appliances and the commercial use of 5G mobile phones.

The action plan also highlighted the potential for vehicle consumption in rural areas. In early January, the country issued an action plan to optimize consumption supplies, which also addressed subsidies for energy saving and new energy vehicles.

"The market size in China is not only huge, but is also undergoing a consumption upgrade," said Wang Qing, a research fellow at the Development Research Center of the State Council. "With the new round of policies being launched to stimulate consumption and companies diversifying their offerings, the consumption potential will be further liberalized."

Liu Xiangdong, a researcher at the China Center for International Economic Exchanges, said besides the policies launched to further stimulate consumption upgrade, the authorities needed to regulate the consumption environment in elderly care, healthcare and information while easing market entry in the healthcare, education and elderly care industries.

Foreign companies are also showing a positive attitude toward the Chinese market.

"The implementation of more opening-up policies in the field of consumption is contributing to the shift of China's economic growth model from investment orientation to consumption orientation, which is more sustainable," said Stephane Rinderknech, CEO of L'Oreal China, one of the world's leading beauty products makers.

"Today, we are more confident than ever in developing and seizing opportunities in China. With a continuously improving business environment, consumers' trust and our great China dream team, we are confident in making China the number one market for L'Oreal Group in the near future," he said. "We hope the joint efforts between the Chinese government and companies will further stimulate China's domestic consumption and benefit consumers."

Faced with trade friction with the United States, experts believe consumption will play a major role in offsetting the negative impact on trade and putting economic growth on a firm footing.

"China is a market with a population of 1.4 billion and 400 million middle-income earners, and there is a strong demand for consumption upgrade," said Wang Bin, an official at the Ministry of Commerce. "The domestic consumption market is full of potential and it is China's biggest advantage to maintain long-term stable development."

Rural areas offer more consumption potential, according to experts.

"The country's exports in the first five months (of 2019) had been increasing but at a slower pace... in the future, the trade surplus will inevitably narrow," said Xu Hongcai, deputy chief economist at the China Center for International Economic Exchanges, arguing that the degree of dependence on foreign trade will decrease.

He said the country needed to turn to domestic demand to power economic growth, and the country's ongoing urbanization offered large potential.

"The urban population is below 60 percent, but is expected to reach 68 percent by 2030," Xu said. "The ongoing urbanization will stimulate consumption upgrade and infrastructure demand. Domestic demand for investment and consumption is the major dividend."

Wang Huiyao, president of the Center for China and Globalization, agreed.

"The contract responsibility system in the 1980s, the privatization of urban housing in the 1990s, which has created 400 million middle-income earners, and membership of the World Trade Organization, have powered the high-speed economic growth of the past four decades," said Wang.

He pointed out that China is now home to 1 billion low-income earners, including 500 to 600 million farmers and 300 million migrant workers, and the current task was to liberalize farmers' homesteads - land previously allotted to farmers by the government to build homes, which cannot be transferred to urban residents.

He argued that if farmers are able to become middle-income earners by selling their homesteads, domestic demand could be largely increased.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产精品二区视频 | 三级黄色免费网站 | 免费毛片视频网站 | 黄色三级a| 天堂在线观看中文字幕 | 国产有码在线 | 99久久视频| 欧美日韩va | 国产美女永久免费无遮挡 | 亚洲最大的网站 | 国产视频一区在线观看 | 99热免费在线观看 | 噜噜色av | 国产精品蜜 | 日韩毛片在线观看 | 欧美高清久久 | 日日cao | 成人久久精品 | 成人久久久精品国产乱码一区二区 | 亚洲激情视频在线播放 | 日本三级中文字幕在线观看 | 伊人综合视频 | av不卡一区| 国产传媒在线观看 | 久久在线免费视频 | 日本精品在线播放 | 国产微拍一区 | 在线播放福利 | 国产精品99久久久久久动医院 | 久久成人av | 亚洲精品欧美在线 | 日韩久久一区二区 | a资源在线 | 国产免费一区 | 久久久久久久久久久影院 | 免费在线观看成年人视频 | 激情黄色片 | 亚洲网在线 | 国产中文字幕在线视频 | 国产激情在线 | 久久久久亚洲精品国产 |