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People's Daily Online>>China Business

China expands demand to offset impact of financial crisis


10:00, December 31, 2011

Edited and translated by Yao Chun, People's Daily Online

Through expanding domestic demand, China has responded effectively to the impact of the international financial crisis, indicated Zhang Ping, minister of the National Development and Reform Commission, in a report to the Standing Committee of The National People's Congress on Dec. 28.

According to calculations, the contribution rate of domestic demand in the first three quarters of 2011 reached 101 percent, in which the contribution rate of domestic demand in final consumption has increased from 32.7 percent to 47.9 percent while the capital formation has descended from 55.5 percent to 53.4 percent.

In terms of consumption, Zhang indicates China has made great effort to increase the income of urban and rural residents as well as accelerate the construction of social security system. By these means, residents' consumption ability and consuming expectation have further improved.

In terms of investment, China has further optimized the government investment, encouraged private investment and curbed the blind expansion of high pollution and high energy consumption industries.

China has successively issued a series of policies, in order to promote investment structure optimization while maintaining the steady and rapid growth.


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