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Reuters, Beijing, November 27: Wang Bin, deputy director of the Department of Market Operations and Consumer Promotion of the Chinese Ministry of Commerce, said on Friday that as the prevention and control of China’s epidemic and the policies that benefit businesses and people come into force, the consumer market continues to rebound and steadily recover. Based on a thorough investigation and judgment, towards the end of the year, the consumer market will continue to rebound and accelerate the recovery trend. Total social zero is initially expected to rise further in 2021, and is expected to achieve faster recovery growth.
In the briefing held by the Information Office of the State Council, he affirmed that in the face of the complex and changing internal and external situation, China’s economy continues to improve and positive factors continue to accumulate for the consumer market to maintain stability and Progress. It has many favorable conditions and at the same time. We should see that the impact of the epidemic continues, residents still have consumption concerns, business operations are still relatively difficult, consumption expectations are not yet stable, and there are still many shortcomings in the development of China’s consumer market.
“We should pay close attention to the development and changes of the domestic and foreign situation, seriously grasp the major and key consumption, accelerate the release of rural consumption potential and promote the steady and progressive development of consumption,” said Wang Bin.
He pointed out that, from the perspective of the favorable factors, the prevention and control of China’s epidemic, the resumption of work and production, and the resumption of business and market are leading the world, creating a good environment for the constant development of consumption. According to the forecast of the International Monetary Fund, China’s economy will grow 1.9% in 2020, making it the only major economy that maintains positive growth.
At the same time, China has a large market of 1.4 billion people and the world’s largest and fastest growing middle-income group. GDP per capita has exceeded $ 10,000, which contains diversified consumption potential on a large scale, at various levels. In addition, since the beginning of this year, the state has intensively introduced a series of policies and measures to help companies stabilize employment and promote consumption, implement proactive fiscal policies and prudent monetary policies, expand the size of the fiscal deficit. and issue special national debts to combat the epidemic. The effects of the policies will manifest themselves even more.
New types of consumption continue to emerge characterized by online and offline integration. The accelerated development of prevention and control of the epidemic is in line with the trend of improving consumption and has injected a new and strong impetus to economic stabilization.
“In the medium and long term, China’s resistance to development is strong, and the advantages of a large country’s economy continue to emerge. The fundamentals of China’s steady development of consumer market will not change, and the upward trend of stability to long term will not change, “said Wang Bin.
The Chinese consumer market has shown a steady recovery recently. Total retail sales of consumer goods in October increased 4.3% year-on-year, achieving positive growth for three consecutive months.
On November 18, the executive meeting of the State Council arranged to “boost bulk consumption, key consumption and promote the release of rural consumption potential,” deploying to boost bulk consumption, key consumption and promoting the release of rural consumption potential, requiring expansion of automobile consumption and encouraging localities to increase Brand indicators are launched. (End up)
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