China needs to boost domestic trade, says expert

A trade expert has suggested that policies should focus more on boosting domestic trade, following the opening of the 18th National Congress of the Communist Party of China in Beijing on Thursday.

China should be more open, especially in service sectors, to revitalize domestic trade, said Song Hong, director of the international trade section at the Institute of World Economics and Politics at the Chinese Academy of Social Sciences.

"We've had a lot of complaints that some made-in-China products are priced even higher in the domestic market than in foreign countries," Song said in an interview with Caixin.com.

This area needs a more open environment that encourages competition — to bring development to the domestic trade sector, Song said.

On foreign trade, Song said China needs to take part more proactively in the administration of the global economy, so that the country can play a bigger role in bilateral and multilateral international economic relations.

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