SCIO briefing on China's commerce work, operations in H1 2021
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E-mail China.org.cn, July 29, 2021
Phoenix TV:
Regarding consumption, how does the Ministry of Commerce view the recovery of the consumer market in the first half of the year? What are the highlights? What's the next trend? What measures will the Ministry of Commerce take to stimulate consumption? Thanks.
Zhu Xiaoliang:
Thank you for your questions. Since the beginning of this year, in the face of complex and fast-changing domestic and international environments, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, commerce departments at all levels have resolutely implemented the decisions and plans of the CPC Central Committee and the State Council. They have strengthened work coordination and overall planning, and taken multiple measures to stabilize and expand consumption. The consumer market has on the whole shown a trend of steady and continuous recovery, which has played an important role in supporting the stable recovery of the economy. In the first half of the year, total retail sales of consumer goods increased by 23% year on year, and the contribution rate of consumption to GDP growth rebounded to 61.7%. Compared with 2019, total retail sales of consumer goods in the first half of the year increased by 9%, among which, the first quarter amount increased by 8.5%, and the second quarter amount increased by 9.4%, 0.9 percentage point higher than that of the first quarter.
There are four highlights in the growth of the consumer market. The first is the sustained and rapid development of mid-to-high-end consumption. For example, in the first half of the year, the retail sales of cosmetics and communication devices above designated unit size increased by more than 25% over the same period in 2019. Imports of suitcases and bags, jewelry, and clocks and watches have doubled year on year. The second is the rapid growth of consumption of big-ticket items, such as automobiles. In the first half of the year, automobile retail sales reached 2.2 trillion yuan, a year-on-year increase of 30.4%, and its contribution to the total retail sales of consumer goods reached 13%. The third is the accelerated recovery of cultural and tourism consumption. China's box office revenue has recovered to nearly 90% of the same period in 2019. Railway and civil aviation passenger traffic has recovered to nearly 80%. Red tourism, rural tourism, and self-driving tours are booming. The fourth is the popularity of green, healthy and smart consumption. For example, new-energy vehicle sales accounted for 9.4% of total vehicle sales, and 5G mobile phone shipments accounted for 73.4% of total mobile phone shipments.
There are still some problems in the current operation of the consumer market, such as an unbalanced recovery and unstable foundation. As China's economy continues to recover steadily, epidemic prevention and control have become more precise and effective, policies and measures have taken effect, and consumer confidence has gradually increased, we expect that the overall consumer market will continue its steady and sound recovery.
The Ministry of Commerce will continue to implement the decisions and plans of the CPC Central Committee and the State Council, ground our work in the new development stage, apply the new development philosophy, and serve to create a new pattern of development. We will resolutely pursue the strategy of expanding domestic demand, promote the implementation of various measures to stimulate consumption in all sectors, give better play to the fundamental role of consumption for economic development, and better meet the people's growing needs for a better life. Next, we will focus on the work in the following aspects:
First, we will further improve policies and measures to promote consumption. While implementing the policies and measures that have been introduced to stabilize and expand automobile consumption, and to boost consumption of other big-ticket items, we will conduct in-depth surveys and research in accordance with changing situation and tasks, and reserve new policies to expand domestic demand and promote consumption.
Second, we will improve the city's capacity to provide pro-consumption services. We will accelerate the building of international consumption center cities and carry out campaigns to promote urban commerce, in a bid to better meet people's needs for a variety of high-quality consumer products.
Third, we will ramp up more effort to expand the rural market. We will move faster in developing a business system at the county level, promote the sustainable and healthy development of rural e-commerce, and improve the backbone network for the circulation of agricultural products. This will further tap into spending potential in rural areas.
Fourth, we will bolster consumer spending in traditional sectors. Efforts will be made to stabilize the consumption of bulk consumer goods, such as motor vehicles, household appliances and household goods, and foster a more rapid and sound recovery of the catering sector.
Fifth, we will boost new types of consumption. We will support and encourage traditional businesses to accelerate digitalized and smart-based transformations, and pursue a wider and deeper integration of online and offline activities.
Sixth, we will ignite people's enthusiasm for consumption. As epidemic prevention and control measures on a regular basis continue, a series of pro-consumption campaigns will be launched in line with local conditions, to spur holiday spending and further boost market vitality and unleash consumption potential. Thanks.
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