With the purpose of increasing domestic demand, China will increase the number of products in the ‘home appliances to the countryside' program and subsidies for automobile ‘old-for-new' services, both implemented by the Chinese government.
Commerce Minister Chen Deming was quoted by China's official news agency Xinhua as saying that the government will continue to stimulate domestic demand, especially consumption, amid the slow and tough world economic recovery in addition to weak overseas demand.
The government would support banks and guarantee agencies to give more financial aid to commercial enterprises, especially small and medium-sized ones, said Chen, speaking at a national commerce meeting held in Beijing on Thursday. Chen also said that the government would encourage companies to develop e-business ventures.