China mulls new policies to boost consumption
Updated: 2012-03-02 15:31
(Xinhua)
|
|||||||||||
BEIJING - The Ministry of Commerce and other authorities are drafting new policies to spur domestic consumption with the expiration of a previous stimulus package, former Assistant Minister of Commerce Huang Hai said Friday.
Huang didn't reveal any detailed policies, but ruled out the possibility of renewing the previous stimulus package designed to boost the overall consumption of home appliances and automobiles.
"We won't renew those policies, but incentives are possible for energy-efficient and environment protection-related products," said Huang, a member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body.
The CPPCC's annual session is scheduled to open in Beijing on Saturday.
Huang said the public is "very concerned" about tariff cuts and consumption taxes for imported goods.
"All relevant departments should work to retain purchasing power within China. More importantly, China must break the distribution monopoly created by suppliers to prevent the prices of foreign high-end consumables from remaining high after tariff cuts," Huang said.
The government may draft a package of policies to encourage large companies to engage in direct talks with the owners of foreign brands to benefit the public, Huang said.
Figures from the National Bureau of Statistics showed that China's retail sales for consumer goods rose 17.1 percent year-on-year to 18.39 trillion yuan in 2011, slower than the 18.3 percent seen in 2010.
Huang attributed the slower expansion to the expiration of the previous stimulus package, which was launched following the 2008 financial crisis and largely applied to home appliances and automobiles.
Related Stories
Consumption to lead growth 2012-02-28 08:15
Consumer spending to nearly double in 2015 2011-06-02 15:38
China to prioritize domestic consumer demand 2011-03-21 09:22
Rising domestic demand helps cut trade surplus 2011-01-11 09:47
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |