China ramps up efforts to boost consumption and domestic market

China will scale up efforts to boost consumption and foster a robust domestic market this year, the National People's Congress, the country's top legislature, said on Wednesday, one day ahead of the opening of its annual session.

Lou Qinjian, spokesman for the fourth session of the 14th NPC, said at a news conference that the country will formulate laws on social assistance, medical security and childcare services this year, and promote the allocation of more resources to areas related to people's livelihoods so that people are able, willing and confident to spend.

"We will implement service consumption quality-enhancing and people-benefiting initiatives to accelerate the cultivation of new growth drivers for service consumption," Lou said. "We will optimize consumer goods trade-in policies to promote the expansion and upgrading of goods consumption."

The country will also create a more internationalized consumption environment, diversify consumption scenarios, and launch the "Shopping in China" campaign, according to Lou.

Meanwhile, the country will foster high-quality employment and formulate and implement income growth plans for urban and rural residents to enhance their spending power, Lou said.

"We will steadily advance the equalization of basic public services, improve systems for education, childcare, elderly care and medical security, thereby reducing residents' worries about consumption," Lou added.