1. Text: | Print|

      Larger market role urged to boost consumption

      2013-09-13 08:00 Xinhua Web Editor: qindexing
      1

      China needs less government intervention and should rely more on the invisible hand to boost consumption as the country moves away from an investment-led growth model, economists and business representatives proposed on Thursday.

      "China's consumption potential is huge. The key is to give the market more freedom and create a friendly environment allowing businesses to stimulate demand," Zhang Weiying, an economist at Peking University, said at the ongoing 2013 Summer Davos Forum.

      Stimulating domestic consumption has been high on the government agenda for years. During a meeting with visiting business representatives on Tuesday, Chinese Premier Li Keqiang once again stressed the importance of consumption in driving sustainable and healthy growth in the long term.

      Over the years, the government has introduced a number of policies, including subsidies on household appliance purchases in rural areas and energy-efficient products, to stimulate consumption.

      These policies can work in the short term, but might distort markets, said Zhang, a market economy advocate.

      The government should create a fair environment and leave the job of stimulating consumption to businesses and entrepreneurs, he said, adding that government intervention only restrains innovation.

      Consumption constituted 45.2 percent of GDP growth in the first half of the year, compared with 53.9 percent from investment, according to data from the National Bureau of Statistics (NBS).

      Gary Liu, executive director of CEIBS Lujiazui Institute of International Finance in Shanghai, attributed the public reluctance to spend mainly to imbalanced income distribution that concentrates wealth in a few, as well as a sense of insecurity in the face of soaring education, healthcare and housing costs.

      "Although Chinese people are getting wealthier, the consumption level of most remained at a very low level," he said, pointing to monopolies as a major reason for the income gap.

      Earlier NBS data showed the Gini coefficient, an index of income inequality, reached 0.474 in China in 2012 -- higher than the warning level of 0.4 set by the United Nations.

      Like Zhang, Liu advocated market-oriented reforms to break up monopolies in order to create a level playing field, improve income distribution, and spur consumption.

      In February of this year, the government unveiled a guideline to reform income distribution mechanisms amid growing public concern over a widening wealth gap.

      The government will work to double the average real income of urban and rural residents by 2020 from 2010 levels and allow faster income growth for the poor. The government will also strengthen scrutiny on high-income groups, such as officials, state-owned enterprises and wealthy individuals, according to the guidelines, though they didn't offer detailed plans.

      "Premier Li has stressed the government's determination to drive through reforms, and we look forward to the upcoming Third Plenary Session of the 18th Communist Party of China Central Committee for more detailed reform plans," Liu said.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 亚洲人成电影福利在线播放| 2048亚洲精品国产| 亚洲激情视频网站| 久久A级毛片免费观看| 亚洲s色大片在线观看| 国产自国产自愉自愉免费24区 | 国产自国产自愉自愉免费24区 | 亚洲春色另类小说| 免费成人激情视频| 亚洲国产精品免费在线观看| 精品国产sm捆绑最大网免费站 | 久久精品国产亚洲网站| a级成人毛片免费图片| 亚洲国产精品久久66| 最近2019免费中文字幕6| 亚洲AV成人噜噜无码网站| 成人免费无码视频在线网站| 亚洲aⅴ无码专区在线观看 | 亚洲国产成人精品女人久久久 | 日韩精品亚洲专区在线影视| 亚洲无码视频在线| 国产婷婷成人久久Av免费高清| 亚洲欧洲在线观看| 成年美女黄网站18禁免费| 国产成人亚洲精品无码AV大片| 亚洲人成色77777在线观看大| 国产免费一区二区三区不卡 | 国产综合精品久久亚洲| a毛片视频免费观看影院| 亚洲欧洲国产视频| 国产精品免费看久久久无码| 国产在线观看免费av站| 亚洲成aⅴ人在线观看| 国产免费无遮挡精品视频| 野花香高清在线观看视频播放免费 | 亚洲成a人一区二区三区| 久久久久久国产a免费观看不卡| 亚洲经典在线中文字幕| 国产一级特黄高清免费大片| 精品国产一区二区三区免费| 亚洲日韩一区精品射精|