Tuesday 18 June 2019 ,
Tuesday 18 June 2019 ,
Latest News
  • Nuke project graft accused a BNP man: PM
  • Last phase UZ polls Tuesday
  • Ex-Sonagazi OC Moazzem denied bail, sent to jail
  • Probe report on Biman pilot’s travel without passport submitted
  • 2 female pilots bring pride for Bangladesh in Congo
  • No liquidity crisis in banking sector: PM
2 February, 2019 00:00 00 AM
Print

China forges ahead with consumption upgrading

Xinhua, Chongqing

China’s consumption is expected to maintain solid growth momentum in 2019, signaling its key role in the country’s economic development, according to statistics. Goods consumption has gained 9.0 per cent from a year ago in 2018 to 38 trillion yuan (5.66 trillion U. S. dollars), serving as the biggest growth driver, according to the National Bureau of Statistics.

Local governments have formulated policies to further boost domestic demand by setting targets and action plans. Although faced with downward pressure in economic growth last year, southwest China’s Chongqing Municipality set a GDP growth rate of 6 per cent for 2019.

“Chongqing’s goods consumption is expected to grow 7 per cent in 2019, with the CPI rise to be kept at around 3 percent,” Mayor Tang Liangzhi said in the city government work report at the annual session of the municipal people’s congress on Sunday.

The municipal government plans to stabilize consumption of automobiles and general merchandise, stepping up efforts to build the metropolis into a global shopping center.

Anhui and Sichuan provinces aim to realize 11 per cent and 10 per cent growth, respectively, in retail sales of consumer goods this year. The target is 13 per cent for Tibet Autonomous Region.

Chinese consumers pay increasing attention to the quality of goods. At the annual sessions of provincial-level legislatures in January, local governments have made it an important agenda to ensure the supply of high-quality goods and services.

From the signals sent by local legislative sessions, innovation in goods and services will be accelerated and more consumption areas will be created, said Zhao Ping from the research department of the China Council for the Promotion of International Trade.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 49.7%
No 46.2%
No Comment 4.1%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
01
02030405060708
09101112131415
16171819202122
23242526272829
30

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting