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China Adopts 10 Measures to Expand Consumption

In order to encourage the people to increase and upgrade consumption, give impetus to industrial restructuring and upgrading, and accelerate the fostering of new economic drivers, the National Development and Reform Commission (NDRC) and other government departments have jointly issued a plan to kick off "10 actions for expanding consumption".

There is serious overcapacity in China's industrial production as slower economic growth has become the economy’s "new normal", and this is making the task of supply-side restructuring, transformation and upgrading extremely arduous, said an NDRC official in charge. This makes it imperative to resolve the supply-demand contradiction at a higher level by positively giving play to the leading role of new consumption and hastening the fostering and formation of new supplies.

The "10 actions for expanding consumption" are as follows:

Action for the unimpeded sale of goods in cities: Steps will be taken to make up for logistical deficiencies, gradually expand the pilot scheme for the coordinated development of e-commerce logistics and express delivery, expand the scope of establishment of duty-free shops, reduce logistics cost, improve logistics efficiency, and promote the penetration of premium goods in third- and fourth-tier cities.

Action for upgrading rural consumption: Steps will be taken to speed up the implementation of policies for rural poverty alleviation and relocation, renovation of rural dilapidated buildings, construction of rural roads, transformation and upgrading of rural power grids, safe drinking water and positive development of rural tourism and leisure agriculture. Efforts will also be made to further improve the software and hardware environment of rural consumption, with emphasis on guiding the quality upgrade of rural consumption.

Action for improving residential housing: Steps will be taken to promote the transformation of heating systems in residential communities, stabilise housing consumption expectation, increase the supply of land for housing construction in first-tier cities and some popular second-tier cities, make proper and full use of the housing provident fund, and allow individuals to transfer their accumulated provident fund amounts to other provinces and cities when they shift jobs.

Action for promoting automobile consumption: Steps will be taken to gradually expand the scope of the pilot scheme for allowing pickup trucks into cities, support the local authorities in speeding up the construction of carparks, and promote the upgrading of automobile after-sale service.

Action for upgrading tourism and leisure industry: Steps will be taken to implement the policies of paid vacation for employees, accelerating the construction of caravan parks and camping grounds for self-drive holidays and fostering new tourism hotspots. Efforts will also be made to build demonstration areas for whole-region tourism, accelerate the development of cruise and yacht vacations, actively develop study tours and senior tourism, and accelerate the fostering of the general aviation consumer market.

Action for expanding the capacity and improving the quality of healthcare, wellness and domestic services: Steps will be taken to enhance the training of domestic helpers, deeply unfold the integration of medicine and wellness, and improve the quality of elderly, healthcare and domestic services while advancing in depth the implementation of policies for the reform of the medical and health system.

Action for making innovations in educational, cultural and information consumption: Steps will be taken to supply innovative education, culture and recreation, unfold high-level vocational education and Sino-foreign cooperation in education, support the building of cinemas in the rural areas, encourage cultural institutes and museums at all levels to develop cultural and creative industries, and unfold e-sports and amusement game competitions.

Action for expanding sports and fitness consumption: Steps will be taken to further revitalise sports facility resources, enrich sports events and stimulate and satisfy residents' demand for sports consumption while properly implementing the policies of attracting social capital in the construction of sports facilities, promoting the development of fitness and leisure industry and energetically developing the snow sports industry.

Action for boosting green consumption: Steps will be taken to implement the energy efficiency pacesetter programme for home appliances, increase the supply of green home purification devices, promote the use of green building materials, and carry forward clean transformation in household energy consumption.

Action for improving the consumption environment and enhancing quality: Steps will be taken to promote the use of a nationwide platform for sharing credit information, further regulate the policy environment by removing the stumbling blocks, promote the quality improvement of consumer goods, and support the development of the sharing economy and other new modes of consumption.

Content provided by Picture: HKTDC Research
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