Page:2016 Report on the Work of the Government.pdf/24

 * We will strengthen the foundational role of consumption in promoting economic growth.

To adapt to the trend toward high-end consumption, we will remove policy barriers, improve the consumer environment, and safeguard the rights and interests of consumers. We will support the growth of consumption in elderly care, health services, housekeeping services, educational and training services, and cultural and sports services. We will work to strengthen the growth of emerging areas of consumption such as information goods and services, smart homes, and personalized fashion. We will encourage interaction between the online and the offline and encourage physical stores to transform themselves through innovation. We will promote the improvement of logistics networks and the development of express delivery services. We will work to stimulate the second-hand car market and move faster to build urban car parks and install charging facilities for new-energy vehicles. We will carry out nationwide trials to set up consumer financing companies and encourage financial institutions to develop new consumer credit products. We will cut import tariffs on some consumer goods and increase the number of duty-free stores. We will ensure people are able to take their paid vacations, strengthen the development of tourist and transport facilities, scenic spots and tourist sites, and recreational vehicle parks, and see that the tourist market operates in line with regulations. With these efforts, we will usher in a new era of mass tourism.


 * We will see that effective investment plays a key role in maintaining stable growth and making structural adjustments.

The many weak areas in infrastructure and public services in China and the urgent need for industry upgrading leave vast scope for growth in effective investment. This year, we Will launch a number of projects set forth in the 13th Five-Year Plan. More than 800 billion yuan will be invested in railway construction, and .investment in road construction will reach 1.65 trillion yuan. A further 20 water conservancy projects will be carried out, and major projects will be launched to develop hydropower, nuclear power, ultrahigh-voltage power transmission, smart grids, pipelines for oil and gas transmission, and urban rail transit Central government budgetary investment will be increased to 500 billion yuan. We will deepen the reform of the investment and financing systems. Funds for specific projects will continue to be raised through market-based mechanisms. Local financing platforms will be required to transform themselves and shift toward market-based financing, the securitization of tangible assets such as infrastructure will be explored, and debt financing will be increased. We will improve the public-private partnership model, make good use of the 180 billion yuan in seed funds, and strictly honor contracts in accordance with the law, so as to bring the enthusiasm of private investors to the table.