Boosting consumption seen as key to reviving economy

Despite the continued recovery trend, consumption lacks momentum amid slowing personal income growth, the upgrade of the consumption structure and adjustments in specific sectors, said Hong Yong, an associate research fellow at the Chinese Academy of International Trade and Economic Cooperation's e-commerce research institute.

Hong said he believes the key is regulating the distribution of incomes, stimulating household consumption potential and cultivating new consumption growth points to drive consumption upgrades.

Policymakers said at a recent news conference that China will better meet people's diverse demand in car consumption, promote rural consumption and strengthen support for those having difficulty finding jobs.

Zhang Zhibing, a member of the National Committee of the Chinese People's Political Consultative Conference, said that since China optimized its COVID-19 response measures, the domestic consumption market has been continuously warming up.

"Particularly, the female consumption market boasts significant growth opportunities, and the 'her economy' is deeply influencing the transformation and high-quality development of the consumption market," said Zhang, who is also general manager of Southern Finance Omnimedia Corp.

Kapal Api Coffee, an Indonesian coffee brand that accounts for over half of the total market share in Indonesia, said the company is bullish on coffee consumption in China and is planning to open more stores in the nation.

"We have seen growing customer flows at our stores, and sales have been booming," said Jiang Jiawen, marketing manager of Kapal Api China.

"We are highly confident about the China market. We hope to find potential partners to further grow our business in the country," she said.