China's vice-premier calls for expanding domestic demand, promoting high-quality economic development

SHIJIAZHUANG -- Chinese Vice-Premier He Lifeng has called for efforts to accelerate the establishment of a unified national market, expand domestic demand to boost consumption, accelerate the construction of a new model for real estate development, and develop new quality productive forces based on local conditions to promote high-quality economic development.

He, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour in North China's Hebei province that began on Monday and ended on Tuesday.

Since the beginning of this year, China's economy has maintained a positive trend despite challenges, leading to rising social confidence, He said.

He urged efforts to implement the country's trade-in policy for bulk durable consumer goods and to stabilize market expectations, calling on relevant cities to integrate consumer goods trade-in initiatives with urban renewal actions based on local conditions, with the aim of unlocking consumption potential further.

He emphasized the importance of advancing a new model for real estate development, of maintaining steady growth while enhancing quality in foreign trade production, of guarding against risks in small and medium-scale local financial institutions, and of driving the innovative development of enterprises focusing on high-end equipment manufacturing, intelligent photovoltaics, clean energy and new materials.

He instructed relevant authorities and local governments to undertake in-depth investigations and research, actively explore innovation, study and resolve practical problems faced by enterprises promptly, respond effectively to the impact of external shocks, and achieve all economic work goals for the first half of the year and the whole year to advance high-quality economic development.