SHANGHAI, March 25 (Reuters) - Expanding domestic demand
in China is not only key to supporting economic recovery but
also a fundamental method to stabilise mid- to long-term growth
of the world's second largest economy, an adviser to the central
bank on Saturday.
China should relax restrictions on the consumption of
mid-to-high-end goods and services, Wang Yiming, a member of the
Monetary Policy Committee of the People's Bank of China, told
the government-organised China Development Forum.
"Restoring and expanding consumption should be the policy
focus for expanding domestic demand," the state-owned Shanghai
Securities News quoted him as saying.
Wang said the government could loosen its grip on property
purchases to improve housing demand and lift restrictions on
auto purchases in big cities.
The government has set a modest target for economic growth
this year of around 5%, while stressing the need for economic
stability and expanding consumption.
(Reporting by Winni Zhou and Brenda Goh; Editing by Robert
Birsel)
Messaging: winni.zhou.thomsonreuters.com@reuters.net))
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