www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

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

Experts shift focus to demand, consumption

By WANG KEJU | CHINA DAILY | Updated: 2023-07-18 06:55
Share
Share - WeChat

Data underline need to boost incomes, spur purchases of big-ticket items

Shoppers buy groceries at a supermarket in Shijiazhuang, Hebei province. LI MINGFA/FOR CHINA DAILY

Given the slower-than-anticipated consumption growth in June, well-targeted policy steps are needed to keep the tasks of boosting domestic demand and shoring up consumption high on China's work agenda, as part of the country's efforts to a sustain steady economic upturn, experts said on Monday.

To be sure, consumption picked up in the past few months, serving as the main growth engine. But, it has not fully established a solid foundation yet — so, more forceful measures are needed to increase household incomes and spur big-ticket items in a mutually reinforcing way, they said.

Data released by the National Bureau of Statistics on Monday showed the country's retail sales of consumer goods totaled around 22.76 trillion yuan ($3.17 trillion) in the first half of the year, up 8.2 percent year-on-year. In June alone, the figure edged up 3.1 percent compared with the same period last year, and amounted to 3.99 trillion yuan.

Lackluster consumer demand has partly resulted in the Consumer Price Index, the main gauge of inflation, coming in flat in June compared with the same period last year, NBS data showed earlier. The People's Bank of China, the country's central bank, said on Friday that a further dip in the CPI might be expected this month, but inflation will likely pick up gradually from August to reach a level close to 1 percent by the end of the year.

Wen Bin, chief economist at China Minsheng Bank, said China has fully resumed normal order in its social and economic activities from the beginning of this year, and also announced stronger policies to stimulate consumption.

Besides, the May Day holiday and Dragon Boat Festival bolstered consumer spending in various sectors, including catering and tourism.

Consumption maintained an overall robust momentum, spurring recovery, and has played a bigger role in driving economic growth, Wen said, adding it, however, eased in June with retail sales logging the slowest growth since December when the country lifted most COVID-19 pandemic restrictions.

The slowdown in consumption growth is partly attributable to the decline in car sales and the ailing property market in June, which should receive high priority in the form of more government support, Wen said.

Data from the China Passenger Car Association showed that in the June 1-25 period, car sales fell 1 percent from the same period last year. Meanwhile, new home prices stayed unchanged in June from a year earlier, retreating from a 0.1 percent increase in May, NBS data showed.

Xu Hongcai, deputy director of the economic policy committee at the China Association of Policy Science, said more support should be extended to consumer spending on big-ticket items like new energy vehicles and home appliances, especially in the vast rural areas that have a huge potential to stir consumption.

According to a CPCA estimate, the penetration rate of NEVs in counties and townships came in at 17 percent compared with some 30 percent in cities even with purchase restrictions in place.

High-end consumption in big cities should not be the country's sole focus. Rural consumption capacity is modest, but it can grow and bring about consumption upgrade, Xu said.

The Ministry of Commerce recently rolled out a slew of policies to accelerate the recovery and expansion of consumption in the home appliances segment. These included subsidies for trading in old goods and purchasing green smart home appliances, and promotional campaigns to boost purchases of home appliances in rural areas.

Going forward, every possible means should be explored to increase household incomes, so as to boost their capacity and willingness to spend and thus better underpin the sustainable growth of consumption in the long run, Xu said.

China's per capita disposable income stood at 19,672 yuan in the first half, up 6.5 percent year-on-year in nominal terms, NBS data showed. After stripping out price factors, per capita disposable income rose 5.8 percent from the previous year.

 

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
 
主站蜘蛛池模板: 免费黄色毛片视频 | 成人性视频在线三级 | 91热视频在线观看 | 国产一级特黄a大片99 | 免费看黄色片的网站 | 欧洲美女与男人做爰 | 久久精品7 | 日韩色视频一区二区三区亚洲 | 成年人在线观看视频免费 | 黄 色 成 年人网站 黄 色 免费网 站 成 人 | 亚欧国产| 国内黄色一级精品 | 一级做a毛片免费视频 | 黄色毛片一级 | 美女张开腿给男人捅 | 九九99re在线视频精品免费 | 特黄aa级毛片免费视频播放 | 情侣偷偷看的羞羞视频网站 | 一级毛片在线免费观看 | 欧美成人在线免费观看 | 国产成人久久精品一区二区三区 | a毛片免费全部播放毛 | 国产三级日本三级美三级 | 国产国产人免费人成成免视频 | 午夜在线播放免费人成无 | 亚洲欧洲日产国码二区在线 | 久久一日本道色综合久久 | 国产一级做a爰片在线看免费 | 频黄 | 久久精品国产精品亚洲精品 | 2021国产精品系列一区二区 | 欧美操人视频 | 久久国产精品高清一区二区三区 | 国产精品久久久久久久久99热 | 毛片高清一区二区三区 | 日韩中文在线 | 外国三级毛片 | 一区二区三区影院 | japanesevideo国产在线 | 国产成人精品免费视频网页大全 | 91b站|