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China to take measures to recover, expand consumption

The State Council approved taking multiple measures to promote the recovery and expansion of consumption, according to a circular released on July 31.

The measures should meet the requirement to better combine efficient market with effective government, optimizing supply with expanding demand, and quality upgrading with innovative development, the circular said.

They include stabilizing spending on big-ticket items, such as optimizing vehicle purchases and management, expanding consumption of new energy vehicles, supporting meeting people’s essential housing demand and their needs for better living conditions, and promoting spending on home decoration materials and electronic products.

Measures will also be taken to expand spending on services involving the catering industry, tourism, culture, entertainment, sports and exhibition events, and healthcare, according to the circular.

Meanwhile, rural consumption should also be promoted, the circular said, adding that more efforts will be made to boost consumption of green products, including smart home appliances and green building materials, in rural areas, improve rural e-commerce and express delivery systems, introduce products with local characteristics to urban markets, and develop rural tourism.

New-type consumption, such as digital consumption and green consumption, should be expanded, while consumption facilities should be upgraded for multiple and comprehensive purposes, weak links of consumption infrastructure should be shored up, and related supporting policies for the construction of consumption infrastructure should be further improved, the circular said.

The circular also stressed improving the consumption environment with strong financial support, continuing to upgrade quality of consumption services, and establishing an all-around long-term pro-consumption mechanism.