Royston Carr Asset Management - Senior state planner says China will introduce various measures to boost domestic consumption during the course of 2019.
Online PR News – 10-January-2019 – Taipei, Taiwan – Royston Carr Asset Management analysts say China has announced its intention to implement measures to strengthen domestic consumption this year. Areas to be targeted by the new policies are automotive vehicles and home appliances.
A senior state planning official announced the country's plans in an interview with a state television station earlier this week.
Ning Jizhe, vice chairman of National Development and Reform Commission reportedly stated that the new measures would be part of a large scale effort to boost domestic consumption in the world's second largest economy.
Analysts at Royston Carr Asset Management say China also plans to introduce policies to address other problem areas including home leasing, child and elderly care and services.
China has announced its intention to focus on reducing investment obstacles in areas relating to sports and culture.
In the interview Ning stated that the NDRC planned to implement a second round of foreign funded projects during the first three months of 2019. Royston Carr Asset Management analysts say these projects could include various new energy ventures and that each of these projects could be worth billions of US dollars.
Europe auto maker stocks rose on Tuesday after Ning's comments with the autos sector index gaining by 2.7 percent.
Royston Carr Asset Management analysts say China, which is the world's largest auto market, will likely sell 28 million cars this year, more or less the same as last year.
In the first 11 months of 2018, China imported 1.03 million cars, 6.8 percent less than the year before.