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China to Promote Consumption System Reform: Top Economic Planner
Minister of China State Planning Commission Zeng Peiyan promised Tuesday, December 5, that the government will create a better policy framework for consumers to spend next year and outlined relevant measures.
Some regulations hindering consumption in electricity use, housing and car purchase should be replaced and canceled out, he siad. The Government will map out ways to reduce charges of domestic telecommunication services and Internet services so as to promote price competition and expand telecommunication consumption.
He also beckons to lower the charging standard of domestic telecommunication service and computer network service, encouraging the innovation of communication technology service, promoting price competition and enlarging communication consumption, so as to promote the industry development such as community service, entertainment, education, gym, health caring and etc., enlarging service consumption.
Zeng also asks for elimination of the system obstruction against the consumption enlargement, speeding up income allocation monetization. He said that setting up a sound personal credit system and housing accumulation fund system could stimulate the development of the housing market. Taxes and fees could be waived for economy houses which target the middle and low income families only.
It is also important to make efforts to improve consumption environment and crack down on the production and sales counterfeit as well as price cheating.
Tourism also tops the government's economic plan as its role in driving the economic development was evidenced by the week-long holidays this year in May and October. Zeng said that tourist facilities will be improved and policies supporting tourism development will be adopted.
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