Call to sustain Expo effect on consumption
By Wang Yanlin |
January 19, 2011, Wednesday
|
Print Edition
Print Edition
SHANGHAI should beef up efforts to grow consumption to ensure that people's spending sparked by the "World Expo effect" will continue this year, said a member of the city's top political advisory body.
The city should also learn from foreign experience on opening major outlets for domestic brands as well as strengthen the fight against fake products, said Lu Weimin, general manager of a car part manufacturer and a member of the local committee of the Chinese People's Political Consultative Conference.
"It will be a challenge for Shanghai to expand consumption after the World Expo," said Lu.
He said that Shanghai's retail sales increased 17.5 percent from a year earlier to 603.7 billion yuan (US$91.4 billion) last year and marked the first time that consumption led Shanghai's economic output, surpassing investment.
But Lu pointed out that about 20 percent of local consumption was stimulated by the World Expo, which created huge demand for catering and boosted purchases of Expo-related products.
"The city needs to do more to create new sources of spending to enhance its position as a center in the mainland for consumption," Lu said, suggesting that Shanghai learn from foreign experience to set up flagship outlets for domestic brands.
He said Shanghai should continue to protect intellectual property rights and fight seriously against fake products.
By yesterday, members of the local committee of the CPPCC submitted over 680 wide-ranging proposals, including consumer price control, food safety, affordable housing and education.
The city should also learn from foreign experience on opening major outlets for domestic brands as well as strengthen the fight against fake products, said Lu Weimin, general manager of a car part manufacturer and a member of the local committee of the Chinese People's Political Consultative Conference.
"It will be a challenge for Shanghai to expand consumption after the World Expo," said Lu.
He said that Shanghai's retail sales increased 17.5 percent from a year earlier to 603.7 billion yuan (US$91.4 billion) last year and marked the first time that consumption led Shanghai's economic output, surpassing investment.
But Lu pointed out that about 20 percent of local consumption was stimulated by the World Expo, which created huge demand for catering and boosted purchases of Expo-related products.
"The city needs to do more to create new sources of spending to enhance its position as a center in the mainland for consumption," Lu said, suggesting that Shanghai learn from foreign experience to set up flagship outlets for domestic brands.
He said Shanghai should continue to protect intellectual property rights and fight seriously against fake products.
By yesterday, members of the local committee of the CPPCC submitted over 680 wide-ranging proposals, including consumer price control, food safety, affordable housing and education.
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