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Latest News, June 17 2012

ted ●domestic demand, a○nd quick

ly rev〓er

e vi●go

he c●entral gove●rnment provided 45 〓billion yua■n in subsidie○s for rural re◆sidents to〓 purchase ●home appli●ances and moto〓r vehicl

rously expa●n

es, inc◆luding motorbik◆es. Part of the s〓ubsidies also sup〓ported trading○-in old motor vehicl●es and home ■appliances for● new ones an

ded consumer s

d pu■rchasing agricultu●ral machiner◆y and tool●s. We halved t〓he purchase tax on s〓mall-displacement ■automobiles. We r○educed or ex■e


mpted taxes■ on buying and sel〓ling homes to supp●ort the purchase of ◆homes to b●e used as their owne●rs' residences●. Throughout the○

Our poli●cie

year 13.64 million〓 motor vehi◆cles were sold, ●an increase of 〓46.2%; commod●ity housing sa〓les amoun

s to enco■u

ted to 937〓 million squ●are meters●, up 42.1%; and tot〓al retail sal●es of consumer go■ods increased〓

rage c

16.9% in rea■l terms. Con●sumption played◆ a much bigg●er role in fueling○ economic growt●h. We promo

onsumption● c

ted rapid○ growth in investmen●t. We guid●ed and sti●mulated non-■government ◆investment by mean〓s of

overed more

well-lev〓eraged government i●nvestment.○ We impleme〓nted a plan to in●vest an addition◆al 4 trillion y■uan over tw

o year◆s. In 2009, t●he central gove○rnment's pu◆blic investment was ◆924

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