Measures taken to boost economy in China

By Yang Yang (Chinadaily.com.cn) 13:17, December 21, 2022

A staff member of the Bank of Communications Beijing Branch instructs a visitor to open a digital RMB wallet on a mobile phone on June 16, 2021. [Photo/Xinhua]

Various measures have been taken to boost the economy in different parts of China, The Paper reported on Wednesday.

A new round of major project constructions started by expanding effective investment in East China's Zhejiang province on Dec 19. Great efforts have been taken to expand the market, grab orders and attract foreign investment.

Many places, including Beijing, Gansu and Shanxi, have accelerated the resumption of work and production after epidemic prevention and control measures were optimized.

More than 250 million yuan ($35.87 million) worth of consumer vouchers and digital renminbi red envelopes have been distributed in East China's Jiangsu province.

Fujian has allocated 200 million yuan to support local governments in issuing consumption vouchers, and extended the consumption promotion activities to the end of December in light of the current consumer market demand. New Year's promotion activities are also encouraged.

Nanshan district of Shenzhen issued another 200 million yuan of consumption vouchers to promote consumption, covering automobile, home appliances, digital, clothing, jewelry, watches, glasses, catering and other fields, in an effort to stimulate and boost market consumption.

Consumption in accommodation, transportation and services should be the focus as they not only have strong consumption driving effect but also allow important areas to upgrade consumption structure in the long run, said Wang Qing, deputy director of the Market Economy Research Institute of the Development Research Center of The State Council.

(Web editor: Cai Hairuo, Liang Jun)


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