Xinhua News Agency: Economy is moving from export-led to domestic demand-driven transformation

BEIJING, May 19 (Xinhua): From Export-led to domestic demand pull: China's economy is to achieve strategic transformation of the Government to stimulate consumption of the initiative, the April fixed asset investment, consumer retail sales both growth, exports continued to decline year-on-year increase in the chain,　　There are indications that domestic demand is becoming an important driving force for China's economic growth. The latest figures from the National Bureau of Statistics show that China's domestic consumption has maintained a good upward trend. In April, when prices fell, the total retail sales of consumer goods in China rose 14.8%, and the growth rate was still 0.1% faster than last month.　　Among them, in the "home appliances to the countryside" and other policies, the rural consumption growth rate is nearly 3% higher than the city. In the various consumption, the automobile market and the real estate is particularly hot.　　Data show that the April National housing Boom Index ended a 10-month decline in the chain, a slight rise of 0.02 points. "China's economic structure is changing and is gradually turning to domestic demand as a leading development model."　　Li Li, director of the finance Department of Tsinghua University's Economics and Management Institute, told Xinhua.　　He pointed out that in the first quarter of this year, including the second half of last year, the mainland did not export-oriented growth rate has surpassed the coastal areas, and the latest April macroeconomic data also confirms this.　　Li said that despite the external environmental impact of the export has not yet been restored, but domestic consumption and consumption-led related industries, as well as fixed asset investment for the economic rise provides strong support.　　The credit data also projected the same signal, despite the April new renminbi loans 591.8 billion yuan, the first 3 months of new credit scale down significantly, but the April residential loans have become the new favorite bank loans, add 147.2 billion yuan, an increase of 73.9 billion yuan.　　In the first 3 months of this year, household loans grew at 7.5%, 4.1% and 13.6% respectively, with a further increase to 24.9% in April, according to central bank figures.　　In addition, under the policy thinking of "stimulating domestic demand", after the introduction of microfinance companies, the CBRC has decided to carry out pilot work on consumer finance companies in Beijing, Shanghai, Chengdu and Tianjin, and individuals can obtain loans of 5 times times their own wages without collateral. "The government's stimulus package accounted for a big factor in the overall growth in consumer retail sales, such as tax cuts for small cars and subsidies for farmers to buy agricultural equipment."　　"said Yuan Gangming, a researcher at Tsinghua University's China and World Economic Research Center.　　Zhang Liqun, a researcher at the macroeconomic Department of the Development Research Center of the State Council, also told Xinhua that the current domestic consumption continued to increase rapidly, indicating that the subsequent energy of China's economy was "very strong".　　and domestic consumption is in sharp contrast is, although all over the April import and export data show that the year-on-year decline further narrowed, and there has been a chain of rise, but China's foreign trade situation is still grim. Data from the customs administration showed that China's exports fell 22.6% per cent year-on-year in April, down 5.5% per cent from last month. Most economists have an externalThe environment is still not optimistic, that short-term demand in Europe and the United States and other markets will not rebound.　　China's Ministry of Commerce recently issued a report that, although there are some positive changes in China's economic operation, but the leading indicators show that the next step in my export situation is still not optimistic. In Zhejiang, one of China's leading export provinces, exports were once thought to have bottomed out in the first quarter, but in April it is likely to worsen. Data show that not only has the traditional market continued to decline, ASEAN, Latin America, India and Russia and other emerging markets also showed signs of weakness, companies in hand orders to reduce further.　　The instability of currency exchange rate in the world has also become the most worried problem when foreign trade companies take orders.　　The Ministry of Commerce report pointed out that the stability of external demand is still significant to the current growth, to stimulate economic growth, enhance the ability to resist risk and stable employment has an irreplaceable role.　　Relevant foreign trade experts and enterprises also suggested that at present all levels of government, trade associations should actively organize enterprises to go out of the country to do exhibitions, and accelerate the pace of foreign trade enterprises to join E-commerce. Many enterprises have taken export and other means to solve the urgent problem.　　She Pengfei, director of Guangdong Provincial Government Development Research Center, said that not only to adjust the foreign trade structure and promote export growth, but also to vigorously expand the domestic market and expand the domestic market share of foreign trade products. But some experts and companies believe that export is not a long-term solution. Zhang Yansheng, director of the National Development and Reform Commission's Foreign Economic Research Institute, said that foreign trade products manufacturing standards and domestic sales sometimes quite different, is not a simple change in the sale of the object can be resolved.　　Shaoxing Yue Mei Group Chairman Xu Zhiming also proposed that most of the domestic goods supply oversupply, export may bring new difficulties to domestic enterprises. "The growth of consumption in the short term will be a stabilizing force for the recovery, but the current consumption base is only 38% of GDP and it is difficult to fully become the main pillar of economic growth." "To boost the growth momentum of domestic demand more, the government has to start by raising incomes, reducing taxes and expanding spending," he said. ”