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Chi Fulin: Social security net key to spurring domestic consumption

(chinadaily.com.cn)
Updated: 2009-09-24 13:36

Chinashould focus on developing domestic consumption rather than relying on exports for its economic growth, Chi Fulin, an expert at a major government think tank said in an interview with China Daily recently.

Chi, the president of the China (Hainan) Reform and Development Research Institute, is also a member of the Chinese People's Political Consultative Conference, China's political advisory body.

To do that, Chi argued, the government should use the opportunity provided by the financial crisis to move away from direct investment in the economy and instead focus on providing important public services.  Without them, he said, people will not feel secure enough about their futures to spend more money and increase their consumption.