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

    Greater incentives to boost consumption in the pipeline

    By Wang Yanfei | China Daily | Updated: 2019-01-30 07:41
    Share
    Share - WeChat
    A consumer chooses Spring Festival couplets at a store in Chongqing. [Photo/Xinhua]

    China plans to roll out more measures to stabilize consumption growth as external pressure and downward headwinds impact on car sales and trade.

    While some factors have dragged short-term growth, the consumption sector has not lost its growth momentum and is on the track to continue upgrading as the nation shifts its growth model to relying more on consumption and less on investment, Liu Yunan, a senior official at the National Development and Reform Commission, said on Tuesday.

    In 2018, total retail sales of consumer goods exceeded 38 trillion yuan ($5.64 trillion), a year-on-year increase of 9 percent, data from the National Bureau of Statistics showed.

    Consumption continues to be a key driver of economic growth. It accounted for 76.2 percent of GDP in 2018, up 18.6 percentage points compared to the previous year.

    Nevertheless, weaker spending growth since late last year, such as cooling car sales, has raised some doubts about China's efforts to rebalance the economy toward domestic consumption away from credit-driven investment.

    Car sales in China in 2018 saw negative growth for the first time in 28 years, with annual production and sales of automobiles reaching 27.8 million units and 28.1 million units, respectively, down 4.16 percent and 2.76 percent year-on-year, according to data from the China Passenger Car Association.

    To cushion downward pressure, the commission plans to relax restrictions on the second-hand car market to spur the domestic market, and roll out more tax cut measures for companies selling used vehicles, according to Liu.

    The government will roll out more measures to encourage tourism, purchases of home appliances and information services. More detailed guidelines are expected to be released in the next few months, according to an official with the commission.

    Zhou Yi, an assistant researcher at the Industry Department of the Development Research Center under the State Council, attributed the recent decline in car sales to the high growth base, the slowdown in economic growth and uncertainties due to ongoing Sino-US trade friction.

    Zhou said there is no need to panic about the continued decline because historical data show the growth rate of car sales does fluctuate and it is expected to rebound with more encouraging moves coming out.

    Wang Yao, deputy secretary-general of China Automotive Power Battery Industry Innovation Alliance, said that sales of new energy cars are expected to continue to grow before the government cancels subsidies, which are expected to stop in 2020.

    The new energy car market is expected to see growth of around 20 percent to 30 percent this year, according to Wang.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . 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
     
    国产精品综合专区中文字幕免费播放| 无码日韩精品一区二区三区免费 | 国产aⅴ无码专区亚洲av| 最新版天堂中文在线| 久久无码精品一区二区三区| 国产AV无码专区亚洲AWWW| 中文精品久久久久人妻不卡| 国产成人无码综合亚洲日韩| 在线a亚洲v天堂网2019无码| 中文字幕精品一区影音先锋| 婷婷色中文字幕综合在线 | 日韩人妻无码精品久久久不卡| 欧美日韩中文字幕在线看| 亚洲中文字幕无码专区| mm1313亚洲国产精品无码试看| 无码专区AAAAAA免费视频| 精品无码一区二区三区电影| 在线中文字幕一区| 人妻无码αv中文字幕久久琪琪布| 国产午夜无码专区喷水| 国产成人亚洲综合无码精品 | 精品无码人妻一区二区免费蜜桃| 亚洲人成网亚洲欧洲无码久久| 丰满日韩放荡少妇无码视频| 亚洲中文字幕无码一去台湾| 亚洲JIZZJIZZ中国少妇中文| 精品久久久久久久久久中文字幕 | 亚洲欧美在线一区中文字幕| 中文网丁香综合网| 中文字幕视频免费| 亚洲日本欧美日韩中文字幕| 亚洲成人中文字幕| 亚洲乱码中文字幕手机在线| 精品久久久久久无码中文字幕| 最近2019中文字幕| 中文无码精品一区二区三区| 精品无码国产自产在线观看水浒传 | 日韩中文字幕在线| 日本乱人伦中文字幕网站| 开心久久婷婷综合中文字幕| 欧美中文字幕无线码视频|