County-level economies to coast on new paradigm By ZHONG NAN | China Daily | Updated: 2021-07-22 09:18 Share SHI YU/CHINA DAILY
Industry experts on Wednesday took stock of the implications of a recent policy document that called for bolstering county-level markets and said the dual-circulation development pattern can help stimulate rural consumption in China.
Around mid-June, central government departments like the Ministry of Commerce and the Ministry of Agriculture and Rural Affairs released a joint policy document.
Under the new policy measures, the government will deploy more resources in building a modern rural circulation system during the 14th Five-Year Plan period (2021-25), upgrading informatization services and related infrastructure, and pushing for the standardization of commercial goods.
That s according to a CNBC translation of his Mandarin-language speech Friday at asset manager ChinaAMC s investment strategy conference. Founded in 1998, ChinaAMC is one of the country s largest mutual fund managers and claims 1.54 trillion yuan ($240.63 billion) in assets under management.
Liu s talk was billed by the organizers as a discussion of macroeconomic issues for the second half of the year. But the presentation slides were titled The bipolar world under the U.S.-dollar super-expansion cycle The Chinese capital market s cognitive revolution.
Liu, also chief economist at Tianfeng Securities, echoed that line when speaking confidently of China s ability to achieve its goal of becoming a great nation.
China has adopted a decision that allows couples to have three children, together with a slew of supporting measures for its implementation, with the aim of optimizing the country s demographic structure and achieving long-term and balanced population development.
The decision lays out supporting measures in three areas: strengthening child nursery services, reducing the cost of childbearing and improving prenatal and postnatal services.
At a press conference on Wednesday, Yu Xuejun, deputy head of the National Health Commission (NHC), said the decision is more than just an improvement of the two-child birth policy. These supporting measures focus on public concerns, integrate birth with marriage, bringing-up and education, and can help unleash the birth potential, he said.
Industry experts on Wednesday took stock of the implications of a recent policy document that called for bolstering county-level markets and said the dual-circulation development pattern can help stimulate rural consumption in China.
Around mid-June, central government departments like the Ministry of Commerce and the Ministry of Agriculture and Rural Affairs released a joint policy document.
Under the new policy measures, the government will deploy more resources in building a modern rural circulation system during the 14th Five-Year Plan period (2021-25), upgrading informatization services and related infrastructure, and pushing for the standardization of commercial goods.
Experts said relatively new forms of business like e-commerce, internet-based services and digitalized operations for marketing farm produce can inject fresh vitality into local economies at the county level under China s dual-circulation development pattern.
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