No timetable to launch digital currency

Consumption drives nation's economy in H1

Consumption was the largest engine of the Chinese economy in the first half of this year, contributing 60 percent to the country's economic growth, which is 40 percentage points higher than investment, said Ning Jizhe, deputy head of the National Development and Reform Commission.

The country will continue to stimulate consumption not only by improving and expanding consumer spending, but also increasing people's incomes, Ning said.

Moreover, the country will guide people in reasonable consumption to form some consumption hotspots, as well as improve the consumption environment, and carry out policies and measures to encourage and promote consumption, Ning said.