China on Thursday unveiled measures to further tap into the country's residential consumption potential.
The country aims to upgrade consumption to balance supply and demand, increase the residential consumption rate, build a safe consumption environment, and strengthen market supervision, according to a guideline issued by the Communist Party of China (CPC) Central Committee and the State Council.
The guideline outlines specific measures to boost consumption, including fostering new consumption growth impetus, promoting the quality of service consumption and upgrading rural consumption.
China should accelerate establishing a quality standard and consumption rating system and strengthen the establishment of the personal and enterprises' credit system in the consumption sector to build a safe and reliable consumption environment, the guideline says.
The guideline also underlines supporting fiscal, financial, land and distribution policies to improve residential consumption capabilities and expectations.