Policy

Chinese cabinet unveils measures to foster new supply, growth driving point

BEIJING
2015-11-23 15:44

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China's State Council, the cabinet, released on Monday guidelines including 24 measures to speed up cultivating new consumption-led supply and economic growth driving points. It specifies in the document key areas and directions for boosting, such as service consumption, information consumption, green consumption, fashion consumption, consumption for better life quality, and rural area consumption.

The measures specified include strengthening infrastructure including networks, expanding rural consumer market, facilitating strategic emerging industries such as energy saving and environmental protection, new IT and new energy autos, accelerating 3D printing, robotics and genetic engineering sectors, and exploring emerging consumption sectors such as wearable devices, intelligent household products and digital media.

To improve infrastructure, the Chinese government planned to accelerate construction of the new generation of information infrastructure and networks, enlarge penetration and coverage of networks supporting IPv6, quicken the drive to raise network speed and reduce user charges, encourage establishment of cross-region or cross-industry logistics information platforms or such platforms with mixed-ownership, and vigorously develop intelligent transport and related facilities such as charging bar and urban parking zones.

To expand rural consumption, its guidelines propose to optimize rural consumption infrastructure, lower rural logistics costs, back all types of social investors to participate in rural E-commerce platform construction, and foster integration of online and offline E-commerce platforms.

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