Ministry of Commerce: six measures will be taken to promote consumption

Published: Jul 22, 2021 15:28
Source: Ministry of Commerce

The Ministry of Commerce said that it will conscientiously implement the decision-making and deployment of the CPC Central Committee and the State Council, be based on the new development stage, implement the new development concept, serve and build a new development pattern, firmly implement the strategy of expanding domestic demand, and promote the implementation of various measures to promote consumption in an all-round way. we will give better play to the fundamental role of consumption in economic development and better meet the growing needs of the people for a better life. In the next step, we will focus on the following aspects:

First, we will further improve policies and measures to promote consumption. While implementing the policies and measures already introduced, such as stabilizing and expanding automobile consumption and boosting bulk consumption, we will carry out in-depth investigation and research in the light of changes in the situation and tasks, and reserve a number of new policies to expand domestic demand and promote consumption.

The second is to enhance the function of urban consumer services. We will speed up the cultivation and construction of cities as international consumer centers, and strive to implement actions to upgrade urban commerce, so as to better meet the quality and diversified consumption needs of urban residents.

The third is to strengthen the development of the rural market. We will speed up the improvement of the county commercial system, promote the sustained and healthy development of rural e-commerce, improve the backbone network of the circulation of agricultural products, and deeply tap the potential of rural consumption.

The fourth is to expand the space for the growth of traditional consumption. We will stabilize bulk consumption such as cars, home appliances and household appliances, and promote a faster and better recovery of the catering market.

Fifth, accelerate the development of new types of consumption. We will support and encourage traditional commercial enterprises to speed up digital and intelligent transformation and promote wider and deeper integration online and offline.

The sixth is to create a strong consumption atmosphere. Guide all localities to organize and carry out all kinds of activities to promote consumption according to local conditions on the basis of epidemic prevention and control, so as to revitalize the city and business, further stimulate market vitality and release consumption potential.

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 for 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
Platinum Hits 11-Week High
9 hours ago
Platinum Hits 11-Week High
Read More
Platinum Hits 11-Week High
Platinum Hits 11-Week High
Platinum futures climbed above USD 1,870/oz on August 21, reaching an 11-week high as a weaker US dollar and renewed demand for precious metals supported prices. The US dollar came under pressure amid concerns over the US fiscal outlook and investor scepticism about the Treasury’s expanded bond-buyback programme. Lower yields earlier in the week also supported demand for non-yielding assets, while expectations that the Federal Reserve could leave interest rates unchanged in September provided additional support to precious metals. Platinum also continued to benefit from a tight global supply-demand balance, with persistent market deficits and low inventories limiting available metal. Meanwhile, heightened geopolitical tensions in the Middle East and elevated oil prices added to inflation and economic uncertainty, supporting safe-haven and hedging demand. The combination of constrained physical supply and supportive macroeconomic conditions continues to underpin the platinum market, although movements in the US dollar, Treasury yields and interest-rate expectations remain key factors for prices in the near term.
9 hours ago
Higher Platinum Prices Support African Rainbow Minerals Earnings
9 hours ago
Higher Platinum Prices Support African Rainbow Minerals Earnings
Read More
Higher Platinum Prices Support African Rainbow Minerals Earnings
Higher Platinum Prices Support African Rainbow Minerals Earnings
[SMM Flash] Higher platinum group metals (PGM) prices are expected to lift African Rainbow Minerals’ (ARM) full-year headline earnings, despite weaker iron ore prices and the impact of a stronger South African rand. ARM expects headline earnings for the year ended June 2026 to rise 12%–22% to R3.02 billion–R3.29 billion, from R2.7 billion a year earlier. The improvement was mainly driven by higher PGM prices, which more than offset pressure from the iron ore business. Headline earnings per share are expected to increase to 1,544–1,682 cents, compared with 1,379 cents previously. ARM is scheduled to release its full-year results on September 4. The stronger PGM environment comes as ARM expands its exposure to platinum production. The company approved a R15.2 billion investment in the Bokoni platinum project in Limpopo, including the refurbishment of a 60,000-tonne-per-month concentrator and construction of a new 120,000-tonne-per-month facility. First production is targeted for the first half of FY2028, with steady-state PGM output expected at 350,000–400,000 oz/year from 2032.
9 hours ago
Palladium Extends Gains to One-Week High
9 hours ago
Palladium Extends Gains to One-Week High
Read More
Palladium Extends Gains to One-Week High
Palladium Extends Gains to One-Week High
[SMMFlash] Palladium futures rose to around USD 1,350/oz on August 21, extending gains to a one-week high as a weaker US dollar and renewed demand for precious metals supported prices. The US dollar weakened after the US Treasury unexpectedly increased long-dated debt buybacks, with Treasury Secretary Scott Bessent indicating that purchases could exceed USD 4 billion per issue. Lower yield pressures initially supported non-yielding precious metals, while broader gains across the precious-metals complex, with gold on track for a third consecutive weekly gain, provided additional support. However, rising Treasury yields and higher energy prices could limit further gains by sustaining inflation concerns and expectations for tighter monetary policy. Geopolitical tensions between the US and Iran also supported safe-haven demand. Meanwhile, supply-side concerns remained supportive, with lower Russian palladium output and reduced refined production linked to processing disruptions in South Africa adding to the market's underlying tightness.
9 hours ago
Ministry of Commerce: six measures will be taken to promote consumption - Shanghai Metals Market (SMM)