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People's Daily Online>>China Business

Consumption to be the biggest stimulus for China economy

By Guo Lijun (Guangming Daily)

15:08, March 23, 2012

Edited and translated by People's Daily Online

Consumption is expected to surpass investment and become the biggest stimulus on fueling China’s economic growth in 2012, according to a report published by the Ministry of Commerce.

A mode of coordinating consumption, investment, and exports outlined in the 12th Five-Year Plan to boost economic growth will initially take shape.

Consumption this year will be mainly driven by two forces: one is the enhancement of ability to consume and the other, the increase of willingness to spend.

China will take comprehensive measures to keep the general level of prices of goods at a steady level, to prevent prices rebound, accelerate the growth of residents’ income, and lay a solid material foundation for consumption growth, according to Zhao Ping, deputy director of the Department of Consumption Economy Studies, a research institute under China's Ministry of Commerce.

The report points out that new policy in tax and loan can be taken into consideration to promote consumption.

Read the Chinese version at http://paper.people.com.cn/rmrbhwb/html/2012-03/20/content_1023075.htm

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