Higher incomes key to more consumption: MOFCOM   

消费有望成经济第一引擎 提高居民收入成关键

明天(18日)，国家统计局将发布2012年GDP、投资、消费等多项重要经济数据。

Beijing (CNS) -- Improving the incomes of the Chinese people is the key to the development of domestic consumption, according to Shen Danyang, spokesman for the Ministry of Commerce (MOFCOM), on Wednesday.

The savings balance of urban and rural residents is now close to 40 trillion yuan (US$6.43 trillion), which demonstrates the huge potential of the consumption capacity of the people, said Shen.

As long as China's economy continues to recover, maintaining the steady growth of consumption is out of the question, he added.

China will accelerate the establishment of a long-term mechanism aimed at improving people's incomes, optimize the social security system and move forward with the urbanization process in order to unleash the buying potential of the people, he said.