China officially released 20 measures to restore and expand consumption, starting consumption from improving the fields of automotive, housing, catering, and cultural tourism, and boosting domestic demand for weak recovery.However, due to the lack of direct financial support, analysts are worried that the policy effect will be discounted.
The China National Development and Reform Commission issued measures on Monday (July 31) on the restoration and expansion of consumption, reiterating the need to thoroughly implement the strategy of expanding domestic demand and "give full play to the basic role of consumption in economic development."This is after the Ministry of Commerce, the Development and Reform Commission and other ministries and commissions introduced the measures to promote home consumption and automobile consumption this month, and the official issued documents to outline consumption measures.
For large consumption such as cars, housing and home appliances, measures require that local regions must not add new car purchase restriction measures, support rigid and improved housing needs, promote the transformation of old communities and the transformation of urban villages in the large cities in the large cities, and carry out in -depth home appliances to replace the old replacement.
In terms of service consumption, measures propose a comprehensive implementation of a paid vacation system to promote holiday consumption; promote the development of night cultural tourism consumption, guide museums, cultural museums, amusement parks and other extended opening hours, support conditions for regional construction "24 hours of life"Circle"; increase large -scale events such as theater, music festivals, art festivals, animation festivals, concerts, and other activities.
In addition, the Development and Reform Commission also requires improving the rural e -commerce and express logistics distribution system, and supports consumer infrastructure to issue real estate investment trust funds (REITs) fundraising. Financial institutions optimize small consumer credit and credit card interest rates, repayment periods and quotasEssence
The data released by the National Bureau of Statistics on Monday shows that the manufacturing procurement manager index (PMI) in July has fallen into atrophy for the fourth consecutive month, and the alarm clock will be knocked down on the weak Chinese economy.As the exports weakened, the official regarded consumption as the entry of economic growth.
In the first half of this year, the final consumption expenditure contributed to 77.2%of China's economic growth; but the increase in consumption gradually weakened after the strong rebound at the beginning of the year.3.1%.
Li Chun, deputy director of the National Development and Reform Commission Li Chun, admitted at a press conference on Monday afternoon that some consumer goods growth momentum is still unstable, some residents have lack of consumption confidence and a lot of concerns.Further effort.
Li Chunlin also emphasized that the promotion of consumer policy is not "empty wallets" and "overdraft needs".The Development and Reform Commission hopes to further meet the consumption needs of residents and release consumption potential by optimizing policy and system design.
Wang Jun, chief economist of Huatai Assets, pointed out in an interview with Lianhe Morning Post that there were many new measures to promote consumption, but they still did not issue cash subsidies or consumer coupons for the public."People do not want to consume, but have no purchasing power and insufficient confidence. Lack of real gold and silver blessings may make measures not playable."
Chen Guangyan, a professor of economics at Nanyang University of Science and Technology in Singapore, described in an interview that the three -year -old epidemic prevention and control caused the Chinese economy to be like a car that has been exhausted for a long time. The government will provide initial motivation for the vehicle to re -start, and then it can move independently."The government's promotion is very important for consumers and private enterprises to recover confidence."
Wang Jun added that the Development and Reform Commission requested that it was not allowed to add new car purchase restrictions, but limited purchase measures have not been lifted.In terms of real estate, first -tier cities have not yet been relaxed.If it can be further loosen in the automotive and housing field, it will help greatly promote consumption recovery.
Chinese Prime Minister Li Qiang held a executive meeting of the State Council on Monday. While deciding to approve three nuclear power projects, while further investing in investment, it also required adjustment and optimization of real estate policies. According to different needs, different cities, etc.Measures.
The Shanghai Housing and Construction Commission and the Housing Management Bureau stated on the same day that they will support rigid and improved housing demand due to urban policies.At this point, four first -tier cities in Beijing, Shanghai, Guangzhou and Shenzhen have stated that the central government's decision to adjust and optimize the property market policy will be implemented. Analysis is expected that first -tier cities will collectively relax the restrictions on house purchase in August.
