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CHINA PRESS
CHINA PRESS: China should strengthen its consumption reform to increase
residents' power of consumption and further drive China's economy, China
Securities Journal reported, citing experts, including Guo Lei, chief analyst of
GF Securities. China's consumption has seen some upgrading but the government
should further cultivate consumption in service to improve residents'
consumption structure, said Huang Wentao, chief analyst of China Securities
Corporation. Individual income tax reform and innovation of high-tech products
will also stimulate long-term growth of per-capita consumption, the newspaper
said. Local government should firmly prevent speculative investment in real
estate to encourage more efficient consumption, Huang added, according to the
newspaper.