Official calls for boosting domestic demand

Updated: 2012-03-24 20:54

(Xinhua)

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BEIJING - A senior Chinese official called for more efforts to boost domestic demand at an international symposium attended by officials and experts from China and Japan held in Beijing on Saturday.

Yang Weimin, vice-minister of the Office of the Central Leading Group on Finance and Economic Affairs, made the remarks, saying China will become a country with vast purchasing and production power after years of efforts.

"China has set expanding domestic demand as its primary task for the next five years and will strengthen supervision over the market to protect consumers' rights," Yang added.

The draft of a plan for national economic and social development proposed at the annual parliamentary session in early March said that China will vigorously expand domestic demand and maintain steady and robust economic development.

Wu Shulin, deputy director of the General Administration of Press and Publication, said China should take note of Japan's prosperous cultural industry in its drive to boost consumption.

Kazuyuki Sugimoto, Japan's former vice finance minister, said Japan has been faced with great challenges in recent years, particularly the earthquake and tsunami that rocked the nation last year.

"We have been grateful for China's attention and help in this matter, as it has encouraged us a great deal," he said.

Sugimoto said a new pattern of development should be created to boost China's economy and motivate cultural development.

Tsuguhiko Kadokawa, president of the Kadokawa Group, predicted a "promising future" for Sino-Japanese cooperation in economics and culture.

"China has recently witnessed rapid growth in its film industry. The recent relaxation of restrictions on imported movies has allowed more Hollywood movies to penetrate the Chinese market, " he said.

Kadokawa said Japan has set up a foundation to subsidize the production of major films and hopes a similar fund will be established in China.

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