Consumer Spending to Get Boost in China
China will roll out "concrete measures" to stimulate consumption by boosting efficiency and slashing the cost of logistics, said Huang Hai, former assistant minister of commerce.
The moves, to be announced at the national circulation conference in late June or early July that will focus on the movement of goods, are part of efforts to prevent the economy from slowing further amid the deepening crisis in Europe.
The conference aims to address supply chain issues concerning logistics and transportation. Getting goods to the market quicker and cheaper will be a key factor in boosting consumer spending.
"More than 20 ministries and departments, led by the Ministry of Commerce, are ready for the two-day conference, a strategically important conference for the government this year," Huang said.
A draft of a document detailing measures on improving efficiency, reducing logistical costs and increasing consumer spending is awaiting government approval, Huang said.
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