SHANGHAI, Jan 29 (SMM) – China will boost domestic consumption in fields of automobile, home appliance sectors, and accelerate the launch of 5G commercial licenses in 2019, according to a document by the National Development and Reform Commission (NDRC) and other nine departments on Monday January 28.
In the Implementation Plan to Optimize Supply, Promote Steady Consumption Growth and Form a Strong Domestic Market, the NDRC said that it will provide subsidies to encourage vehicle remanufacturing and new energy vehicle sales in rural areas, as well as to loosen restrictions on the resale vehicle market.
China will also accelerate the development of the service industry, including home rentals, elderly care, and child care. The commercial use of 5G technology will be encouraged in 2019.
Other measures to spur consumption include continued income distribution reform and more subsidies for environmentally-friendly, intelligent home appliances.
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