Due to COVID-19, both domestic and oversea economic situations are all facing dramatic challenges, the main task now is to gradually recover the supplying and stimulate the consuming. Therefore, National Development and Reform Commission has issued a work plan for expanding domestic demand and promoting consumption. Four parts highlighted are listed down below:
- Fully release the potentiality of online economy. Improve the "Internet+" Medicare payment policy under medical security and quality. Enrich online sports intelligent events supplies with more contents as intelligent skiing, intelligent soccer, etc. Expand production types of Internet education services in order to fit the purchasing need of universities. Promote the development of online museums with new technology as 5G and virtual reality and promote their sale of culture creative products. Lower the cost of individual online business. And push the cooperative development of online and offline property managing service to fit the various need from citizens.
- Build a new mode for service consumption with normalized COVID-19 prevention and control measures. Support the recovering development of catering industry as bars, cafes and restaurants. Increase the issuance of annual travel tickets and public transportation cards, promote the publication of tourism with the cooperation with new media. Advance more service consumptions within neighborhoods and give more policy supports on lands, licenses and constructions, and create a new consuming habit with information and technologies.
- Implement policies for consumption encouragement, provide a high-quality virtuous cycle for supply and demand. Give more supports on the construction of old neighborhood areas, it’s also encouraged to build additional elevators for old buildings. Give a better use for underground spaces to build public parking lots with businesses as maintenance, cleaning and beauty for cars and express logistics. Start the activity for “Alerts for the using durations for big home appliances”, make a new suggestion list for introduction of a national inventory of emergency supplies for families in autumn and winter.
- Give a better use for inner and external elements and resources and a full support for manufacturing enterprises. Push the construction of 5G Internet bases with supporting locations and subsidies. Further upgrade the investing environment for foreign funds with the implementation of Negative List for the Access of Foreign Investment (2020). Expand the implementing range of “Same line, Same standard, Same quality” to general consuming and industrial goods, and increase the supports for manufacturing enterprises.
If you want to read the complete article, you can refer to the below link (in Chinese only): https://www.ndrc.gov.cn/xxgk/zcfb/tz/202010/P020201029597065666501.pdf
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