China to Adopt Policies to Stimulate Consumption

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Last updated at: (Beijing Time) Wednesday, August 28, 2002

China to Adopt Policies to Stimulate Consumption

The Chinese government is to adopt a series of policies to encourage the people to spend more, according to Vice-Minister in charge of the State Development Planning Commission (SDPC) Wang Chunzheng.

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The Chinese government is to adopt a series of policies to encourage the people to spend more, according to Vice-Minister in charge of the State Development Planning Commission (SDPC) Wang Chunzheng.

Wang said China would maintain a rapid growth of investment and consumption so as to sustain a healthy development of the economy.

He made the remarks in a report to a session of the Standing Committee of the National People's Congress Tuesday.

Wang said the government would accelerate the issuing of new policies on the purchase of automobiles and expansion of the automobile market. The government would also rectify irrationally high charges on education so as to provide more educational opportunities.

The government would encourage the development of a modernized logistic service to a larger and more standardized scale.

He said the government would expand construction of low-income housing so as to gradually ease the housing shortage for poor urban residents. At the same time, it would further relax controls on the housing market by issuing ownership certificates to privately owned buildings.

The government would also continue to improve the infrastructure of tourism industry, and improve standards of service in the tourism industry.

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