China to boost consumption in auto, 5G technology sectors

Published: Jan 29, 2019 12:01

Save

This was according to a document by the NDRC and other nine departments on Monday Jan 28

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.

Government policy Market Commentary

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 mins ago

Brief Review of the Spot Market and China Inventory (March 19, 2026) [SMM Silver Market Weekly Review]

6 mins ago

17 mins ago

Ora Banda Mining Boosts Round Dam Gold Resources Tenfold in Six Months

According to foreign media reports, Ora Banda Mining increased the newly discovered resources at Round Dam tenfold in just over six months. The mining area is very close to the company's Davyhurst beneficiation plant in Western Australia. The Round Dam gold mine was discovered long ago, but its large gold system was not identified until August last year. In terms of resource classification, measured resources were 408,000 ounces, and inferred resources were 922,000 ounces.

17 mins ago

Inner Mongolia's Budun Yingen Mining Gets Approval for 2.97 Million mt/year Silver Mine Project

On March 7, according to an announcement by Xingye Silver&Tin, Xiwuzhumuqin Banner Budun Yingen Mining Co., Ltd., a managed company of Inner Mongolia Xingye Silver&Tin Mining Co., Ltd., recently obtained the Reply on the Approval of the 2.97 million mt/year Underground Mining and Beneficiation Project for the Silver Mine in the Budunwula Mining Area of Budun Yingen Mining Co., Ltd., Xiwuzhumuqin Banner, Xilingol League, Inner Mongolia, issued by the Development and Reform Commission of the Inner Mongolia Autonomous Region to the Development and Reform Commission of Xilingol League. Budun Yingen Mining will implement an underground silver mining and beneficiation project in the mining area, with a construction scale of 2.97 million mt/year.

17 mins ago