Xi calls for boosting fundamental role of consumption in China's economic growth
BEIJING — Xi Jinping called Wednesday for boosting the fundamental role of consumption in promoting economic growth.
Xi made the remarks in a report to the 19th National Congress of the Communist Party of China at the Great Hall of the People in central Beijing.
"We will improve systems and mechanisms for stimulating consumer spending, and leverage the fundamental role of consumption in promoting economic growth," he said.
Reform of the investment and financing systems will also be deepened to enable investment to play a crucial role in improving the supply structure, he added.
Investment and foreign trade used to be the main drivers of China's economic growth. As China has entered a new normal in economic development, the country's rebalancing efforts have boosted the role of consumption in growth.
From 2013 to 2016, final consumption contributed 55 percent to the country's economic growth annually on average. In the first half of 2017, the contribution of consumption to growth surged to 63.4 percent, official data showed.
- Foreign visitors taste the delicacies of Tianjin's ancient town
- China introduces a standard framework for humanoid and embodied intelligence
- CPPCC unveils agenda of the annual session
- Geologists brave rugged terrain in Yunnan prospecting mission
- Senior enterprise official facing probe
- China's anti-graft authorities reveal extent of year's work
































