Key meeting lays out long-term plan for economic work
Consumption
Active expansion of domestic demand was encouraged, as was the fundamental role of consumption in driving economic growth.
Consumption of major items including automobiles, electronic products and household items should be boosted, and spending on services such as sports, leisure and cultural and tourist services should be encouraged, according to the meeting.
With world economic growth lacking momentum and global trade growth slowing, China should stick to the strategy of expanding domestic demand especially consumer demand to drive its development, said Chen Lifen, a researcher with the Development Research Center of the State Council.
With the expanding domestic demand policy, investment and consumption are expected to maintain stable growth in the second half of the year, and the resilience and stability of China's economic development will be further enhanced, Chen added.
