Liu Aihua, a spokesman for the agency, assured that most indicators maintained steady momentum, “laying a good foundation for growth throughout the year.”

He cited a number of positive factors behind the indicators, including a more dynamic flow of economic factors such as people and goods, greater market vitality and the rapid growth of new types of consumption.

In this regard, he said the government’s supportive policies should play a greater role in the economic recovery, but cautioned against external instability and uncertainty. This is reported by
Prensa Latina, a partner of TV BRICS.

China’s Commerce Minister Wang Wentao recently stressed that the government would encourage new approaches to domestic consumption, which contributed 82,5 per cent to the national economy’s growth in 2023.

He explained that the country will prioritise consumption of goods with a focus on replacing old goods with new ones.

“Promoting the replacement of goods with new goods is not only a driving force to increase current economic growth, it is a powerful measure to strengthen recovery, but also a long-term strategy to promote high-quality development,” he emphasised.

Wang explained that another approach aims to expand service consumption, which is linked to improving people’s living standards.

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