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SIC: consumption to expand in China in H2 2009
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10:55, August 07, 2009

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The State Information Center, under the National Development and Reform Commission, asserted in its report released on August 6 that income increase and stimulus policies will further encourage consumers in China to spend more in the second half of the year.

However, the job market still constitutes to put great pressure on income growth. And low consumer confidence will also dampen consumption.

The subsidies for rural consumers of household appliances and for urban consumers for replacement of their old household appliances will make for a brisk market.

Precious goods will also enjoy bright prospects as a result of the increasing inflation expectation.

Housing and auto markets are improving. The stable purchasing power from buyers, either for better housing conditions or for higher investment return, will lead to high growth in the housing market.

It is estimated that the auto consumption upgrading will expand from major cities to smaller cities. Autos with lower costs and higher oil efficiency will enjoy a growth in sales.

The SIC forecasts that social retailing sales will increase by 15 percent to 12.5 billion yuan in 2009.

By People's Daily Online

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