'More measures to boost China consumption'

The National People's Congress (NPC) on Wednesday said China would roll out more measures to boost domestic consumption, after achieving steady GDP growth last year. At a press conference ahead of the annual NPC meeting in Beijing, spokesman Lou Jianqin said more than half of the country's economic growth last year came from consumption-based activities. Overall retail sales of consumer goods exceeded 50 trillion yuan for the first time, he said, while double digit percentage growth was seen in areas such as consumer spending on culture, tourism, recreation and travel. China's gross GDP exceeded 140 trillion yuan, Lou noted, contributing around 30 percent to the world's economic growth. "This year, we will continue expanding domestic demand as a strategic underpinning, vigorously boost consumption, and work to build a strong domestic market," Lou said. "We will carry out a programme of quality upgrade in the consumer services sector and move faster to cultivate new growth areas in services consumption. We will optimise the trading policy for consumer goods and expand and upgrade goods consumption." He added that efforts would be made to promote tourist consumption in China, such as organising a series of "Shopping in China" events. Lou said the NPC would vet 11 items during the eight-day session that begins on Thursday. He described the draft outline of the 15th Five-Year Plan on the agenda as a major event for the country's politics, as the congress would also review the government's work report and a code on ecology and the environment. There will be three press conferences on the economy, people's livelihood and foreign affairs. On Hong Kong, Lou said there would be more measures benefiting the SAR in the 15th Five-Year Plan, as they'd support the city in leveraging its unique strengths and roles. With the central government's strong backing, he said the SAR government has led society in striving for economic development. The NPC spokesman noted there had been a large number of stock launches on the Hong Kong bourse while a record of more than 10,000 outside firms had set up shop in the SAR. Lou stressed that under the country's latest plans, Beijing supported the city in building an international innovation and technology hub, as well as efforts for both Hong Kong and Macao in attracting global high-end talent. Edited by Tony Sabine