"The Chinese market has huge potential and sound prospects," Zhong said. China's goods consumption is expected to gain 9.1 percent from a year ago in 2018 to 38 trillion yuan (5.6 trillion U.S. dollars), serving as the biggest growth driver for five consecutive years.
"China is steadily marching toward the largest country of goods consumption," Zhong said.
The ministry will further stimulate domestic consumption this year, with measures to promote urban consumption upgrades, tap into the potential in rural areas, foster modern supply chains, and bolster services consumption.
China's foreign trade also remained steady, with the total imports and exports up 14.8 percent to stand at 4.2 trillion U.S. dollars in the first 11 months, hitting a new high. The services trade increased 15 percent from a year ago to 656.2 billion U.S. dollars in the first ten months, the world's second largest.
Zhong listed three major tasks of the ministry in 2019: holding the second import expo, properly handling trade frictions with the United States, and pushing forward pilot FTZs and the Hainan free trade port.
The ministry will implement the consensus reached between Chinese and U.S. heads of states, propel economic and trade negotiations, and expand cooperation with U.S. states and cities, businesses and non-governmental institutions in a bid to promote stable China-U.S. economic ties and win-win cooperation.
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