China
Potential of the rural market is expected to be released at an accelerated pace
  ·  2021-03-10  ·   Source: NO.10 MARCH 11, 2021

The Central Government's No.1 Document for 2021, released on February 21, stresses efforts to comprehensively promote rural vitalization and accelerate the modernization of agriculture and rural areas.

The measures outlined in the document include tapping the consumption potential of the rural market to expand domestic demand.

Internet-based e-commerce should be harnessed to spur rural consumption. E-commerce has facilitated agricultural products' market entry and faster development of rural industries.

Attracting more urban residents to consume in rural areas is also a good way to encourage rural consumption.

The government has been encouraging rural areas to develop tourism and leisure agriculture for years. The development of rural tourism could be combined with ecological, cultural and fashion industries. It would promote rural consumption in an all-round way, and the integrated effect of urban and rural residents' consumption would become more substantial.

With the new dual circulation development pattern, the potential of the rural market is expected to be released at an accelerated pace, which would become an important support for China's economic development.

This is an edited excerpt of an article originally published in Economic Daily on February 24 

(Print Edition Title:  Rural Consumption)  

 

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