test


Member ID:
Password: 
Stay logged in for 30 days
Forget Your Password?
close

login CCFGroup App

Economy | Time: May 25 2020 3:34PM
China's consumption recovering, more measures underway: official
 
Text size
BEIJING, May 24 (Xinhua) -- China's consumption is on recovery path and further measures are underway to boost consumption upgrading and optimize supplies, an official with the country's top economic planner said Sunday.

Earlier data showed China's retail sales of consumer goods went down 7.5 percent year-on-year in April, recovering from a drop of 15.8 percent in the previous month.

"The data showed the trend of expanding consumption scale and optimizing structure had not changed, and I believe the retail sales data will be better in May," Ning Jizhe, deputy head of the National Development and Reform Commission, said at a press conference.

As part of efforts to spur consumption recovery, China will further push upgrading of auto consumption and encourage circulation of used cars, with tax support policies for purchases of new energy vehicles, according to Ning.

More efforts will be made to boost service consumption in areas including tourism and elderly care.

China will also quicken the pace to foster new types of consumption such as digital and information consumption and step up new infrastructure construction on 5G networks and data centers to support consumption growth in related areas, Ning said.

China will work to improve the consumption willingness and capabilities of domestic residents and support the recovery and development of consumer service sectors, according to a government work report submitted to the national legislature for deliberation on Friday.
Related Articles
China's central bank skips reverse repos
Central bank cuts interest rates to boost real economy
China's central bank to lower refinancing, rediscount rates
Brazil's oil output grows by 7.8 pct in 2019
UK PM unveils 5-bln-pound plan to fuel economic recovery
Industrial firms' May profits grow by 6 percent
FMCG sector set to enter recovery phase
China to allocate billions for building of Hainan free trade port
Latest on the novel coronavirus outbreak (Jun 23, 2020)
FDI growth predicted for second half of year
 
Research
Analysis on production changes of global major cotton ...
Analysis on spandex for ear bands for masks in 2020
Analysis on spandex industry supply and demand
Recent coal-based MEG market overview and outlook
Polyester and downstream market operation and outlook
PTA: Impact of capacity expansion cycle and cost collapse
 
 

浙公网安备33010902000742号