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Consumption will be key driver for growth

Updated: Mar 6, 2018 chinadaily.com.cn Print

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An online celebrity uses live streaming to conduct online promotion for a clothing store in Hangzhou, Zhejiang province, May 20, 2017. [Photo/VCG]

China is capable of achieving a growth target of around 6.5 percent this year and domestic consumption will be a key growth driver, He Lifeng, minister of the National Development and Reform Commission, said Tuesday.
He said the government will roll out more policies to boost investment, including greater support for private investment. He estimated investment will contribute about one-third to overall economic growth this year.
Domestic consumption will be a strong growth driver and could contribute around 60 percent to the growth, along with the development of emerging industries and modern service sector, He told reporters at a news conference on the sidelines of the ongoing annual session of the National People's Congress, China's top legislature.
The minister also expected China's foreign trade to maintain stable growth this year, as it is expected to contribute 8 to 9 percent to the country's overall economic growth.

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