New steps to increase consumption, jobs
New business models and self-employment ventures will drive China's ongoing efforts to boost consumption and create more jobs, the nation's top economic regulator said on July 15. Ouyang Rihui, assistant dean of the China Center for Internet Economy Research at the Central University of Finance and Economics, said: "The measures will bolster consumption, cushion the novel coronavirus effect and drive economic recovery." Efforts are also needed to develop the industrial internet, foster new forms of business, and further release the country's consumption potential via reforms, Premier Li said in his remarks at a symposium. "Digital transformation and industrial digitalization upgrade have accelerated during the novel coronavirus epidemic," said Pan Helin, executive director of the Digital Economy Academy of the Zhongnan University of Economics and Law in Hubei.
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