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Minister: Consumer goods sales to top 21 trillion yuan this year
By Hu Xiaocen |
December 28, 2012, Friday
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Online Edition
Online Edition
CHINA will adhere to its goal of expanding domestic demand in 2013 and promote consumer loans to stimulate sales of durable goods like cars and household appliances.
"About 55 percent of China's economic growth was driven by domestic consumption this year, up from 39.6 percent in 2007," Commerce Minister Chen Deming said in Beijing at the National Commerce Conference today. "The total value of retail sales of consumer goods is expected to grow 14 percent to 21 trillion yuan (US$3.3 trillion) this year."
The Ministry of Commerce is currently working on incentive policies to stimulate the sales of big-ticket consumer items and energy-saving products, said the ministry on its website.
The ministry said it will continue to broaden trade financing channels, expand the scope of export credit insurance, and explore other methods to stabilize the growth of exports next year.
"China has become the world's biggest exporter and second-biggest importer," said Chen. "Total value of imports and exports is expected to surpass US$3.8 trillion in 2012. Exports from China will reach 11 percent of the world's total."
"Foreign direct investment is likely to reach US$110 billion this year, achieving an average growth of 7 percent in the past five years," the minister said.
"About 55 percent of China's economic growth was driven by domestic consumption this year, up from 39.6 percent in 2007," Commerce Minister Chen Deming said in Beijing at the National Commerce Conference today. "The total value of retail sales of consumer goods is expected to grow 14 percent to 21 trillion yuan (US$3.3 trillion) this year."
The Ministry of Commerce is currently working on incentive policies to stimulate the sales of big-ticket consumer items and energy-saving products, said the ministry on its website.
The ministry said it will continue to broaden trade financing channels, expand the scope of export credit insurance, and explore other methods to stabilize the growth of exports next year.
"China has become the world's biggest exporter and second-biggest importer," said Chen. "Total value of imports and exports is expected to surpass US$3.8 trillion in 2012. Exports from China will reach 11 percent of the world's total."
"Foreign direct investment is likely to reach US$110 billion this year, achieving an average growth of 7 percent in the past five years," the minister said.
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