Liu Xiangdong, a rese上海千花网the China Center for Int

ternational Economic Exchanges, said besides the policies launched to further stimulate c

上海千花网onsumption upgrade, the authorities needed to regulate the consumption environment in elderly car

e, healthcare and information while easing market entry in the healthcare, education and elderly care industries.

上海千花网Foreign companies are also showing a positive attitude toward the Chinese market.

“The implementation of more opening-up policies in the field of consumption is contributing to the shift of China’s econom

ic growth model from investment orientation to consumption orientation, which is more sustainable,” said St上海千花网品茶微信

phane Rinderknech, CEO of L’Oreal China, one of the world’s leading beauty products makers.

“Today, we are more confident than ever in developing and seizing opp上海千花网

ortunities in China. With a continuously improving business environment, consumers’ trust and

our great China dream team, we are confident in making China the number one market for L’Oreal Group in the near fut

上海千花网品茶微信ure,” he said. “We hope the joint efforts between the Chinese government an

d companies will further stimulate China’s domestic consumption and benefit consumers.”

Faced with trade friction with the United States, experts believe consumption will play a major

role in offsetting the negative impact on trade and putting economic growth on a firm footing.上海千花网品茶微信

“China is a market with a population of 1.4 billion and 400 million middle-income earners, and there is a strong dem

and for consumption upgrade,” said Wang Bin, an official at the Ministry of Commerce. “The domestic consumption ma

rket is full of potential and it is China’s biggest advantage to maintain long-term stable development.”

Rural areas offer more consumption potential, according to experts.

“The country’s exports in the first five months (of 2019) had been increasing but at a slower pace… in the future, the trade surp

lus will inevitably narrow,” said Xu Hongcai, deputy chief economist at the China Center for International Economic E

xchanges, arguing that the degree of dependence on foreign trade will decrease.

He said the country needed to turn to domestic demand to power ec

onomic growth, and the country’s ongoing urbanization offered large potential.

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