Expand rural market to boost overall consumption

The recent meeting of the Political Bureau of the Communist Party of China Central Committee said domestic demand potential should be tapped, and the rural market and overall demand expanded.

Facing the complicated global economic environment, China has to boost domestic consumption and strengthen the industrial chain to achieve high-quality development, for which it has to further deepen reform.

Since the beginning of this year, thanks to growing global uncertainties including trade disputes, Brexit and some economies' protectionist policies, the global Purchasing Managers' Index has been declining with the new export orders index registering negative growth. And global organizations including the International Monetary Fund, World Bank and the Organization for Economic Co-operation and Development have downgraded their global growth forecasts, reflecting the rising risk of global downturn.