China to Take Various Measures to Boost Domestic Consumption: Premier Li
Xinhua
/SOURCE : yicai

(Yicai Global) March 15 -- The Chinese government will take measures to further boost domestic consumption and unleash market potential, Premier Li Keqiang said here Friday.

"There are still obstacles that constrain growth of domestic consumption. If we can resolve these problems, it will help boost consumption and improve the livelihoods of the people," Li said at a press conference following the conclusion of the annual national legislative session.

This year's government work report has set the goal to eliminate almost all expressway toll booths at provincial borders within two years. Li said the measure will not only ease traffic congestion, but also help with the growth of related industries and sectors.

"In actual practice, we will endeavor to achieve this goal ahead of schedule," he added.

This year will also see another 20-percent cut in the rates of internet services, which will save an estimated 180 billion yuan (26.7 billion U.S. dollars) for consumers, Li said.

He added that telecommunication service carriers will be required to allow cell phone users switching to other carriers without changing their numbers.

"We also plan to cut the prices of electricity for general industrial and commercial companies by 10 percent this year," the premier said.

There are over 10 million e-commerce businesses with more than 600 million users. Electricity price cut will reduce their costs and benefit consumers, he said.

"We must endeavour to eliminate all these institutional barriers. This will unleash the potential of consumption, the vitality of the market and the creativity of our society. All government departments must be fully aware of the concerns of the people and do their best to meet our people's expectations," Li said.

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