Chinese premier stresses boosting consumption, expanding domestic demand

BEIJING -- Chinese Premier Li Qiang has emphasized boosting consumption and improving people's livelihoods through stronger and more targeted measures, in a bid to strengthen the fundamental role of consumption in driving economic development.

Li made the remarks at a study session held by the State Council on Thursday.

The premier noted that consumption must be prioritized for expanding domestic demand and driving economic growth, urging more effective measures to promote consumption and improve the consumption environment.

More efforts should be made to facilitate service consumption, improve the supply of education, medical care, culture, sports, tourism, elderly care and household services, and accelerate the application of artificial intelligence (AI) to unlock consumption potential of AI terminal products, he said.

He urged to develop high-quality products and services in more segments to stimulate new consumer demand.

He also emphasized the need to relax market access in relevant industries, and boost high-quality product supply to meet emerging consumer demands.

Liu Yuanchun, president of the Shanghai University of Finance and Economics, gave a lecture at the session. Vice-premiers Ding Xuexiang and He Lifeng, and State Councilor Shen Yiqin participated in discussions.