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China eyes boost in domestic consumption

01-05-2012 20:42 BJT

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A Two-day National Domestic Work Conference sets the tone for China’s commercial policy for the year ahead. As the world economy is still struggling, China is signaling a shift toward the domestic market, and is now aiming to boost domestic consumption.

Faced with tough global markets in 2012, maintaining stable trade growth is not the only major priority. Boosting the domestic market and stimulating domestic consumption is also going to be at the centre of national policy.

A Two-day National Domestic Work Conference sets the tone for China’s commercial
policy for the year ahead.

Due to the downturn of global economy, consumption is down in the major export markets of the EU and United States. However, China itself could be a huge market for its own production.

Chen Deming, Commerce Minister, said, "China’s got tremendous potential for domestic consumption. Domestic consumption is vitally important. In 2011, consumption among China’s urban residents increased 17% year on year. In 2012, China is looking forward to a large increase in domestic retail sales."

Encouraging China’s own brands to explore the domestic market is also another message being delivered during the conference. Marketing more effectively nationwide, and raising the public profile of domestic brands are being seen as essential measures.

Chen Deming said, "We encourage domestic manufacturers to enhance their design,
quality, and sales network, not only for the sake of exports, but also to meet the
needs of domestic consumers."

Chen Deming said, "We encourage domestic manufacturers to enhance their design, quality, and sales network, not only for the sake of exports, but also to meet the needs of domestic consumers."

As for other measures, the Minister of Commerce was keen to highlight the creation of a robust environment for consumption and community service. This would involve establishing more community dining areas, convenience stores, and appliance maintenance stores in middle and large scale cities.

Chen Deming said, "These are the measures for increasing service consumption; we will also do whatever we can to protect customers’ interests, especially in the retail, food safety and pharmaceutical areas."

According to the Ministry of Commerce, new measures might also be introduced to boost sales of vehicles and electrical appliances.

 

Editor:Zhang Dan |Source: CNTV.CN

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