- Li calls for steady integration of domestic, foreign trade
- Initiatives needed to boost consumer purchasing power
Mysteel: China will respond to the challenges brought by external shocks in a calm and composed way and step up efforts to boost consumption, expand domestic demand, and strengthen the domestic economic circulation to further unlock the vitality and potential of China’s massive market, said Chinese Premier Li Qiang when he conducted an inspection tour in the capital city Beijing.
The external environment is undergoing profound changes, creating unfavourable conditions for China’s foreign trade, he said, calling for collective effort, proactive initiatives, and determination to overcome difficulties.
He also urged greater market diversification, innovation in trade channels, and solid measures to stabilise the fundamentals of foreign trade.
Li emphasised fully utilising various policies, aligning domestic and international standards, building platforms to help high-quality export products enter the domestic market, cultivating independent brands among foreign trade enterprises, and establishing direct policy communication mechanisms for companies. He advocated for the steady integration of domestic and foreign trade.
He also stressed the importance of implementing targeted actions to boost consumption, including efforts to stabilise employment, increase income, and strengthen social security to further enhance consumer purchasing power and willingness to spend, thereby nurturing and expanding domestic demand.
Li called for fostering healthy competition and guiding companies to develop differentiated strategies based on their strengths, and by continuously innovating products and services, enterprises can improve competitiveness and create new demand through high-quality supply.
During a visit to a talent apartment project, Li said that acquiring existing homes for use as affordable housing is an important measure to stabilise the real estate market and improve people’s livelihoods, and he called for full implementation of relevant policies and suggested granting city governments greater autonomy in terms of purchasing entities, pricing, and usage while launching new support measures in a timely manner.
He emphasised advancing urban renewal efforts, accelerating the renovation of urban villages and dilapidated housing, and revitalising idle stock through various approaches while optimising new development.
He highlighted the need to address the concerns of new urban residents and housing-challenged populations by adjusting and improving relevant policies to support both basic and upgrading housing needs.
China’s real estate market still has significant development potential. China needs to unlock market potential, promote the construction of “good-quality housing”, accelerate the formation of a new development model for real estate, and ensure stable and healthy growth of the real estate segment.
Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.
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