China on Monday unveiled a slew of measures to nurture new drivers of consumption in efforts to boost economic development.
These measures focus on creating new consumption scenarios across a wide range of areas including automobile, catering, tourism and care for older people, according to a circular jointly issued by five government agencies, including the country's top economic planner, the National Development and Reform Commission.
In the automotive sector, local authorities have been encouraged to ease restrictions and increase quotas for vehicle purchase, and support the replacement and renewal of automobiles when conditions allow.
The circular stated that efforts will be made to push for the commercial operation of autonomous driving, while the diverse use-cases of automobile-related products and services will be enriched through usage scenarios such as car races, camping and vehicle modification. The country will also further enhance the safe and convenient trading of used cars, according to the circular.
A view of the 2024 Beijing International Automotive Exhibition, Beijing, China, May 3, 2024. /CFP
The government also plans to facilitate inbound travel for foreigners by optimizing cross-border policies and expanding visa-free access to citizens from more countries. The move will invigorate consumption in the culture and tourism sector, in addition to developing new tourism models such as "music plus tourism," "performance plus tourism" and "sports event plus tourism," as well as rolling out new tourism products.
Crowds at a music festival in Wuhu, Anhui Province, China, June 23, 2024. /CFP
In a bid to boost spending catered to older people, authorities will encourage e-commerce platforms and large supermarkets to host shopping festivals and set up dedicated sections for consumption for older people. There will also be accelerated efforts to speed up renovation of consumption premises for the convenience of older citizens and improve the quality of supply of products that cater to them.
Products made for older people on display at the 10th China International Senior Services Expo, May 21, 2024. /CFP
The circular also spotlighted measures to support the upgrading of overall consumption in the catering sector, expanding and developing new scenarios for the application of electronic products such as robots and wearable devices, fostering "China-chic" consumption and improving the consumption environment in rural areas.
(With input from Xinhua)