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New measures to boost consumption

By Ding Qingfen and Li Fangfang (China Daily)

08:02, January 04, 2012

BEIJING - New measures will be introduced to boost consumption, especially for vehicles and electrical appliances, as export demand weakens.

With tax rebate policies on vehicles and appliances having expired or due to expire, "new measures are in the pipeline," to boost consumption, said Huang Hai, former assistant minister of commerce and member of the economic and trade policy consulting committee affiliated to the Ministry of Commerce.

"The Ministry of Commerce has drafted a proposal to continue the stimulus programs in the coming few years, but in different ways, and they are expected to cover vehicles and those related to real estate, say household appliances," Huang told China Daily in an exclusive interview.

The measures may include subsidies for consumers in affordable housing to buy appliances and for those planning to change their cars.

Ministry of Commerce spokesman Shen Danyang also said the ministry is mulling over launching new programs, expected to be announced next week, on expanding domestic consumption.

The ministry is expected to hold the National Commerce Work Conference on Thursday and Friday, during which Commerce Minister Chen Deming will make a keynote speech.

Huang also disclosed that under the instructions of Premier Wen Jiabao a national circulation conference, the first of its kind, will be held around April.

Government officials will discuss how to introduce concrete measures to boost consumption at the conference, he added.

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