China Rolls Out Measures To Boost Consumption

China’s top economic planner on Monday rolled out measures to boost consumption amid efforts to sustain economic recovery and promote high-quality development.

The country vowed to spur consumption of a wide range of items and services, including new energy vehicles (NEVs), home appliances, electronics, catering, cultural and tourism sectors, as well as that in rural areas. It also pledged to support rigid demand for housing and improved living, according to a notice issued by the National Development and Reform Commission (NDRC).

Local authorities should not unveil new measures to restrict auto purchasings, while regions that have already had restrictive measures on auto purchasing should improve these measures in order to adapt to local conditions, the NDRC said in the notice.

Efforts should be made to build high-quality charging infrastructure, promote the use of NEVs in rural areas, and maintain and improve the favorable tax incentives for NEV purchasings, according to the notice.

The state economic planner also pushed for the consumption of home appliances by rolling out trade-ins and the recycling of used home appliances, the notice said.

It said these measures, having been approved by the State Council, aimed at better implementing the strategy of expanding domestic demand, giving full play to the fundamental role of consumption in stimulating economic growth, and sustaining the country’s high-quality development.


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