China pledges more efforts to stimulate consumption

BEIJING, March 1 (Xinhua) -- China will continue to promote consumption with multiple measures in 2022 as the country faces downward pressure, the Ministry of Commerce said Tuesday.

China's retail sales of consumer goods, a vital consumption indicator, posted only a 1.7-percent growth year on year in December 2021 as the whole year's retail sales rose 12.5 percent, indicating a pressure of demand contraction, Commerce Minister Wang Wentao told a press conference.

To cope with the situation, the ministry will secure the implementation of existing supporting policies for enterprises, especially small and medium-sized enterprises in sectors including catering, hotel and retail sales, Wang said.

Wang said the ministry will help conduct more sales-promoting activities under sound COVID-19 control, such as shopping festivals and the China International Consumer Products Expo as well as snow-ice consumption as the Beijing 2022 Winter Olympics brought passion to the sector.

The consumption platforms will also be upgraded, establishing smart and green business districts and pedestrian streets to meet consumers' needs, said the minister.