BEIJING, Jan. 16 -- Chinese Premier Li Qiang on Friday chaired a State Council executive meeting which mulled measures to boost consumption by accelerating the formation of new growth points in service consumption.
The meeting called for continued efforts to boost consumption by fully leveraging the integrated effects of different policies, linking improvement in people's wellbeing to consumption growth, and giving full play to the fundamental role of consumption in driving economic growth.
The meeting emphasized the importance of accelerating the cultivation of new growth points in service consumption, supporting new business forms, models, and scenarios, and increasing the supply of high-quality services.
Efforts should be made to improve the long-term mechanism for promoting consumption by formulating and implementing plans aimed at expanding consumption during the 15th Five-Year Plan period (2026-2030), increasing the income of urban and rural residents, speeding up the removal of unreasonable restrictive measures for consumption, and implementing the paid leave system. These measures are intended to boost people's consumption capacity and willingness to spend, promote the upgrading of consumption and industrial structures, and accelerate the building of a strong domestic market.
The meeting also made arrangements for actions to clear overdue payments to enterprises and ensure the issue of wage arrears for migrant workers is properly addressed. The meeting also deliberated and adopted a draft decision of the State Council on revising and abolishing some administrative regulations.
