China Pins Growth Hopes on Consumption, Service

Editor: 管理员      Date:2015-12-07      Hit:5059
%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20demand%20for%20exports%20continues%20to%20slip%20and%20the%20real%20estate%20sector%20cools%2C%20China%20expects%20consumption%20and%20the%20service%20sector%20to%20help%20pick%20slack.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20nationwide%20shopping%20spree%20on%20Single%27s%20Day%20%28Nov.%2011%29%20offered%20solid%20proof%20of%20the%20spending%20power%20for%20the%20country%27s%20billion-plus%20population.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20top%20e-commerce%20platform%20Alibaba%20reported%20a%20stunning%2091.2%20billion%20yuan%20%2814.3%20bln%20U.S.%20dollars%29%20in%20sales%2C%20thanks%20in%20part%20to%20an%20expanding%20number%20of%20rural%20consumers.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMore%20than%208%2C000%20online%20shopping%20stations%20were%20set%20up%20by%20Alibaba%20in%20villages%20nationwide%2C%20helping%20thousands%20join%20in%20the%20sales%20event%20for%20the%20first%20time.%20Their%20trade%20volume%20surpassed%20100%20million%20yuan%20after%201%20hour%20and%2047%20minutes.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWu%20Maoxian%2C%20a%20village%20grocery%20store%20owner%20in%20Guizhou%20Province%2C%20is%20one%20of%20the%20rural%20buyers.%20He%20spent%20800%20yuan%20buying%20five%20winter%20coats%20for%20his%20family%20on%20Tmall%2C%20an%20online%20shopping%20platform%20by%20Alibaba.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESeveral%20thousand%20kilometers%20away%2C%20Xia%20Kai%2C%20a%20farmer-turned%20businessman%20in%20Suining%20County%2C%20east%20China%27s%20Jiangsu%20Province%2C%20sold%20700%2C000%20yuan%20worth%20of%20furniture%20in%20a%20single%20day%20using%20two%20shops%20on%20Tmall%20and%20another%20four%20on%20JD.com%2C%20a%20major%20competitor%20of%20Alibaba.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EBy%20the%20end%20of%202014%2C%20nearly%2030%20percent%20of%20China%27s%20620%20million%20rural%20population%20had%20internet%20access.%20The%20percent%20of%20rural%20Internet%20users%20is%20quickly%20catching%20up%20with%20cities%20due%20to%20widespread%20mobile%20Internet.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ETo%20get%20in%20early%20on%20the%20lucrative%20market%2C%20Alibaba%20plans%20to%20invest%2010%20billion%20yuan%20to%20establish%20100%2C000%20village%20service%20centers%20in%20the%20next%20three%20to%20five%20years%2C%20mostly%20to%20teach%20rural%20people%20how%20to%20make%20best%20use%20of%20the%20Internet.%20Meanwhile%2C%20JD.com%20will%20hire%20100%2C000%20villagers%20as%20agents%20to%20expand%20their%20business%20in%20100%2C000%20villages%20within%20a%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EGiving%20vigor%20to%20rural%20consumption%20is%20one%20approach%20the%20Chinese%20government%20is%20adopting%20to%20counter%20the%20slowing%20economy.%20China%27s%20economy%20expanded%206.9%20percent%20year%20on%20year%20in%20the%20third%20quarter%20of%202015%2C%20the%20lowest%20reading%20since%20the%20second%20quarter%20of%202009.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20expects%20an%20annual%20growth%20of%206.5%20percent%20for%20the%20country%20to%20%22build%20a%20moderately%20prosperous%20society%22%20by%202020.%20Many%20have%20doubted%20if%20the%20country%20can%20succeed.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Although%20the%20Chinese%20economy%20is%20slowing%20down%2C%20the%20economic%20structure%20is%20improving%2C%20with%20consumption%20and%20service%20new%20engines%20for%20growth%2C%20instead%20of%20investment%2C%22%20said%20He%20Lisheng%2C%20professor%20with%20the%20China%20Executive%20Leadership%20Academy%20Pudong.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAfter%20eight%20years%20of%20loss%2C%20Zhubajie.com%2C%20China%27s%20largest%20crowdsourcing%20platform%2C%20is%20expected%20to%20turn%20profitable%20this%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20%27spring%27%20of%20the%20service%20trade%20is%20coming%20with%20a%20booming%20private%20sector%2C%20high%20Internet%20penetration%20and%20increasing%20per%20capita%20GDP%2C%22%20said%20Zhu%20Mingyue%2C%20CEO%20of%20Zhubajie.com%2C%20which%20received%202.6%20billion%20yuan%20of%20financing%20in%20June.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20company%2C%20currently%20estimated%20to%20be%20worth%20more%20than%2010%20billion%20yuan%2C%20is%20an%20online%20market%20where%20over%20ten%20million%20service%20providers%2C%20typically%20designers%20and%20advertisers%2C%20trade%20with%20three%20million%20small%20companies%20on%20a%20tight%20budget.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22We%20are%20not%20only%20a%20trading%20platform%20but%20also%20an%20incubator%20of%20startup%20companies%20that%20grow%20on%20the%20rising%20deals%20from%20the%20platform%2C%22%20said%20Zhu%2C%20who%20said%20the%20revenue%20this%20year%20is%20expected%20to%20quadruple%20that%20of%20last%20year%20at%20200%20million%20yuan.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EWith%20new%20trademark%20registration%2C%20printing%20and%20financing%20businesses%2C%20the%20company%20is%20expected%20to%20have%20a%20revenue%20of%201%20billion%20yuan%20next%20year%2C%20he%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%222015%20is%20just%20the%20beginning%2C%22%20said%20Zhu.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20service%20sector%20activity%20increased%20slightly%20in%20November%2C%20according%20to%20a%20survey%20conducted%20by%20financial%20information%20service%20provider%20Markit%20and%20sponsored%20by%20Caixin%20Media%20Co.%2C%20Ltd.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Caixin%20China%20General%20Services%20PMI%20%28Purchasing%20Managers%27%20Index%29%20came%20in%20at%2051.2%20in%20November.%20A%20reading%20above%2050%20indicates%20expansion%2C%20according%20to%20the%20survey%20released%20on%20Thursday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMeanwhile%2C%20increasing%20urbanization%20is%20expected%20to%20create%20a%20new%20force%20in%20consumption%2C%20driving%20growth%2C%20said%20He%20Lisheng.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAt%20present%2C%20China%20has%20750%20million%20urban%20residents%20including%20250%20million%20migrant%20workers%20who%20do%20not%20enjoy%20equal%20rights%20to%20education%2C%20employment%2C%20social%20security%2C%20medical%20care%20and%20housing.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20central%20government%20plans%20to%20help%20100%20million%20migrants%20settle%20in%20cities%20and%20enjoy%20equal%20public%20services%20by%202020%2C%20which%20will%20expand%20consumption%2C%20stabilize%20real%20estate%20markets%20and%20improve%20investment%20in%20urban%20infrastructure%20and%20public%20services%2C%20said%20He.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20professor%20called%20for%20the%20government%20to%20add%20more%20public%20services%20that%20cater%20for%20the%20new%20urban%20population%20in%20order%20to%20spur%20the%20economic%20growth.%26nbsp%3B%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28CRI%20English%29%3CBR%3E%3C/FONT%3E%3C/P%3E