China’s commerce ministry vows to promote consumption

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China’s Ministry of Commerce held a national teleconference on promoting consumption, which is of great significance and responsibility, the ministry said in a statement on Wednesday.

All levels of commerce regulatory departments should focus on restoring and expanding consumption and do a good work in organizing the “2023 Consumer Boost Year” based on implementation of existing policies and measures, it said.

The ministry urged regulators to actively introduce new measures, stabilize bulk goods consumption such as automobiles and household suppliers, cultivate and expand new forms of consumption, continuously optimize consumption platforms, and enhance the fundamental role of consumption in economic development, the ministry said.