国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Domestic consumption

Domestic market key for future

By Ding Qingfen (China Daily) Updated: 2011-09-17 07:22

BEIJING - With exports sagging in the face of the global debt crisis, China's manufacturers should look to cash in on domestic demand, said the deputy minister of commerce.

"The growing domestic consumption market is turning into a platform where local companies could expand market share and enhance competitiveness globally," Wang Chao said at the Future of China and the World Trade Organization forum in Beijing on Friday.

"China is becoming one of the most important parts of the world market thanks to its growing economic scale," he said.

China's exports in August pulled back from a record high and were outperformed by imports in annual growth.

The nation's trade surplus last month dropped sharply to $17.8 billion, down 43 percent from July, the first time it had narrowed in six months.

Wang's remarks come as the European debt woes that involved Greece, Portugal and Ireland have spread to larger economies such as Spain and Italy, which economists believe will hurt the Chinese exports.

Additionally, increasing labor and raw material costs, and the rising yuan, are putting the squeeze on exporters.

"Although exports will continue to grow, the prospects are not optimistic over the next one to two years," said Wang Tao, head of China economic research at UBS Securities.

"Developing the domestic market is a good alternative and will be a must-do for Chinese manufacturers in the long-term," she said.

In its 12th Five-Year Plan (2011-2015), the Chinese government pledged to expand domestic consumption by raising individual incomes and improving social welfare.

"China's economy relies heavily on manufacturing and exports, resulting in over-investment and excessive capacity in certain industries. Achieving a better balance between external and domestic demand is a big challenge for China in the next decade," Pascal Lamy, director-general of the WTO, said in an article for the forum.

Yet exporters have already been looking at local markets.

"We want to shift to promote sales at home," said Chen Xi, manager of Wenzhou Dongyi Shoes, a mid-scale exporter which experienced decreasing overseas demand over the last few months.

China is now the largest exporter and the second largest importer worldwide. The nation is the largest developing nation - and the second largest worldwide after the United States - in absorbing foreign direct investment.

"Since China's entry into the WTO, China's economy has made remarkable achievements and the nation has also made a sizable contribution to the world economy," Wang said.

The Chinese government is also working on measures to boost domestic sales of goods originally produced for exports.

"We also welcome foreign companies tapping the domestic market," said Wang at the forum, which was held to commemorate the 10th anniversary of China's WTO accession.

Li Jiabao contributed to this story.

Hot Topics

Editor's Picks
...
莆田市| 和田市| 天全县| 吴桥县| 沧州市| 林西县| 无极县| 乌苏市| 芦山县| 汉川市| 德保县| 福州市| 新源县| 海丰县| 临安市| 庄浪县| 潍坊市| 达日县| 邹平县| 土默特左旗| 宁德市| 宁晋县| 宜城市| 军事| 平顶山市| 分宜县| 耿马| 宜昌市| 唐山市| 临湘市| 延边| 封丘县| 治多县| 萝北县| 青川县| 朝阳区| 万载县| 合山市| 太白县| 紫云| 牙克石市|