Economy
14:30, 15-Mar-2019
Premier Li: China to resolve obstacles to boost consumption
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China has experienced downward consumption and will take counter measures, Premier Li Keqiang told a press conference after the second session of the 13th National People's Congress (NPC) concluded in Beijing on Friday.
Consumption and people's well-being are two sides of a coin, Li said, adding that the obstacles that constrain domestic consumption growth should be resolved.
He announced some measures, including the elimination of all tollbooths on provincial expressways to further ease traffic flow and encourage the development of related industries now that China has seen an increase in travel by road.
Moreover, the government has endeavored to raise speeds and reduce rates of internet services, with a goal of another 20 percent rate cut this year, he said.
Another measure is to cut the price of electricity for industrial and commercial use by 10 percent a year, which will benefit many industries such as e-commerce and ultimately to benefit consumers, according to Li.
To sum up, China will endeavor to ease and even eliminate institutional barriers that constrain consumption and all government departments must be fully aware of concerns of the people and do best to ease their concerns, he said.