Domestic consumption hits new record, but consumer spending remains cautious
Despite the positive headline figures, analysts caution that actual purchasing power has yet to recover fully.
Multiple measures to stimulate domestic consumption
The domestic consumer market, with its population of 100 million, remains a vital pillar of the country's GDP growth, yet it has not been fully tapped. The Ministry of Industry and Trade has pledged to actively support local retail businesses in better utilizing domestic opportunities.
Efforts to stimulate domestic consumer market continue as pandemic threatens exports
Many provinces and cities have launched programmes this year to promote local consumer demand to support businesses as the COVID-19 pandemic continues to affect exports.