According to the Ministry of Commerce, China's consumption promotion within the consumer goods market in recent years has achieved remarkable results.
Consumption is one of the troikas that stimulate economic growth. In recent years, there has been an emphasis on expanding domestic demand and promoting consumption. According to the market operation office of the Ministry of Commerce, judging from the view of the consumer goods market development in recent years, China's approach to expanding consumption has made remarkable achievements.
First, the size of the market has expanded. Total retail sales of consumer goods in 2007 are expected to reach 9 trillion yuan, an increase of 85% over 2002. Since 2004, after deducting price changes, the actual growth rate has been higher than the economic growth rate for four consecutive years. Second, we have narrowed the gap between urban and rural growth. From the second half of 2004, the gap between growth rates of China's urban and rural area social consumer goods retail sales has begun to decline. In 2007, the gap between the growth rates has narrowed from around 4 percent to 1.5 percent. Third, upgrades in consumption structure have accelerated. Real estate, domestic cars, computers, mobile phones, tourism and cultural fitness products and brand name products have grown rapidly.
By People's Daily Online
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