Home > News > Industry News > China has successfully made the transformation
News
Daily News
Industry News
Company news
Certifications
Latest News

Gifts of love in ancient China

Jade pendants The ancient Chinese usually gave their lovers something small so that they could easily take it everywhere. A jade pendant is a good cho...

what is mild steel

Mild steel is a type of carbon steel with a low amount of carbon – it is actually also known as “low carbon steel.” Although ranges vary depending ...

10 Differences between a Businessman and Entrepreneur

10 Differences between a Businessman and Entrepreneur Business people and entrepreneurs have many similarities.However, they are not the same kind of ...

What is ALOCROM 1200 surface treatment

What is ALOCROM 1200surface treatment Alocrom 1200 is a rapidnon-electrolytic dip process which gives excellent protection against corrosionto both pa...

What is Kydex material

What is Kydexmaterial Kydex is a line of thermoplasticacrylic-polyvinyl chloride materials manufactured by Sekisui SPI. It has a widevariety of applic...

What is Over mold?

Overmolding is also called 2 times injection molding in China. Compared with the third-party material bonding, overmolding process makes the process f...

What is Alodine 5200 surface treatment

What is Alodine 5200surface treatment Alodine 5200 treatment is a chromiumfree product and specifically formulated for treating aluminium and its allo...

What is Black Oxide?

Black Oxide, blackening, oxidizing, oxiding, black passivating, gun bluing . . . these terms all refer to the process of forming a black iron oxide on...

How and When to Add Bend Reliefs to Sheet Metal Parts

What is a Bend Relief? A bend relief is nothing more than two small incisions cut into a piece of sheet metal to free the metal between the two. It se...

Privacy Policy

We will not collect and store your information in any form.
Contact Us
Vice General Manager: Ivy
Tel:86-13312953695
Tel:86-755-82737317/82737469
Fax:86-755-82737710
E-mail: sales910@xy-global.com, sales.china@xy-global.com
Postal Code: 518129
Off Add: Room1702,17F,Building#4,Tianan Cloud Park,No.2018 Xuegang Rd.,Longgang District,Shenzhen.
Factory Add:Daling Industrial Area,Shaling,Fenggang Town,Dongguan City Contact Now

China has successfully made the transformation

China has successfully made the transformation

Memory www.diecastingpartsupplier.com 2016-02-29 16:11:08

China has successfully made the transformationfrom an economy whose growth is mainly driven byinvestment and foreign trade to one that is poweredby domestic demand, especially consumption, saidGao Hucheng, minister of commerce, during a pressconference held by the State Council InformationOffice on Tuesday.

By 2015, China's retail sales of consumer goodsreached RMB 30.1 trillion, up 10.7 percent from the previous year. Consumption contributed66.4 percent to national economic growth, 15.4 percent higher than in 2014, playing the role ofstabilizer for economic growth.

Gao said there are many reasons for the increasing buying sprees by Chinese tourists overseas.Firstly, ever since the 18th National Congress of the Communist Party of China,the incomegrowth of China's urban and rural residents has been faster than the GDP for threeconsecutive years and consumption capacity has also been expanding. Secondly, China'ssocial security system has been gradually improving, encouraging people with extra money toup their consumption.

Thirdly, consumption conditions have improved. The supply side has adapted to the market inrecent years. For example, health care, travel and entertainment have seen growth.
As far as China's?outbound?shopping is concerned, data shows that there were 120 millionoversea visits in 2015, and consumption abroad, including travel fees, accommodation andshopping expenses, totaled 1.5 trillion yuan ($229.8 billion), among which at least 700-800billion yuan ($107.3-122.6 billion) was spent on shopping.
Medium- and high-income communities are forming in China, Gao notes, and medium- and low-end commodities and services can hardly meet their consumption needs. Their shopping listshave largely turned toward higher quality goods and better prices from past demands forluxury brands. Therefore, business is now a focal point for playing the role of supply side.