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People's Daily Online>>China Business

Lifting consumption top priority for 2012

By Ding Qingfen and Li Jiabao  (China Daily)

10:08, January 06, 2012

New policies to replace expiring subsidies, tax breaks for home appliances, cars

BEIJING - Expanding China's domestic consumption will be a priority of the government's economic work this year, Commerce Minister Chen Deming said on Thursday.

"Despite a challenging global economic situation, China's economic development features many favorable conditions at home in 2012.

"The government will boost domestic consumption while improving the foreign trade structure," Chen said during the ministry's annual two-day work conference, which ends on Friday.

With subsidies and tax breaks for vehicle and appliance purchases ending or about to end, officials are expected to announce new policies to stimulate consumption.

The policies, "including support for the consumption of energy-saving and environmental-protection products, will focus on the recycling of used electronics and vehicles", Chen said.

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