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October 10, 2016

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Home » Business » Economy

Demand drives H1 expansion

CONSUMPTION contributed 73.4 percent of China’s economic growth in the first half of 2016, official data showed yesterday.

The share was up 12.5 percentage points from the proportion seen at the end of 2015, the Ministry of Commerce said.

Compared with investment and exports, consumption has been a less conspicuous growth driver for China in the past few decades, but the latest data showed it is catching up fast as other drivers lose steam.

The momentum is partly attributable to government efforts to boost consumption potential in the country’s underdeveloped rural areas with the help of improved logistics and the Internet.

So far, China has built 100 e-commerce bases across the country to make online shopping more accessible, said spokesman Shen Danyang.


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