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China Should Boost Consumption

CHINA PRESS
MNI (Singapore)
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Officials in China can boost consumption by increasing residential incomes, stimulating car purchases, avoiding a real estate hard landing and lowering the cost of education and healthcare, according to Huang Qifan, vice-president at the China Institute for Innovation & Development Strategy. Residents disposable income should be raised to 52% of GDP from 43% in 2022, Huang added. China’s car production and sales volume have not increased for five years, and car ownership of 21% remains below the 40% average for developing countries with a per capita GDP of USD10,000. (Source: Yicai)

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Officials in China can boost consumption by increasing residential incomes, stimulating car purchases, avoiding a real estate hard landing and lowering the cost of education and healthcare, according to Huang Qifan, vice-president at the China Institute for Innovation & Development Strategy. Residents disposable income should be raised to 52% of GDP from 43% in 2022, Huang added. China’s car production and sales volume have not increased for five years, and car ownership of 21% remains below the 40% average for developing countries with a per capita GDP of USD10,000. (Source: Yicai)