Chinese premier stresses greater efforts to boost consumption

BEIJING -- Chinese Premier Li Qiang on Tuesday called for greater efforts to boost consumption, expand domestic demand, strengthen domestic circulation, and further unleash the vitality and potential of China's ultra-large market to address challenges posed by external shocks.

Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an investigation and research tour in Beijing.

When inspecting a local exhibition promoting domestic sales of foreign trade firms, Li noted that while profound changes in the external environment have caused adverse effects on China's exports, foreign trade companies should actively explore diversified markets and innovate sales channels to keep foreign trade stable.

Li stressed efforts to make good use of existing policies to promote domestic sales of foreign trade goods, further carry out actions to boost consumption, and encourage healthy competition among firms to create new demand with high-quality supply.

Li also inspected a real estate project site and learned about local efforts to convert inventory housing into talent apartments. Li said that the purchase of existing commercial housing for use as affordable housing is a crucial step in stabilizing the real estate market and improving people's livelihoods, urging efforts to support such initiatives.

For now and some time to come, China's real estate market still has a lot of room for development, Li said, calling for efforts to further release the market potential, focus on promoting the construction of high-quality houses, accelerate the building of a new model of real estate development, and promote the steady and healthy development of the property market.