A customer chooses products featuring Belgian cartoon character Tintin at a shop in Shanghai on February 26, 2019 (XINHUA)

Consumption must be a pillar of China's future economic growth and prosperity, which is consistent with the roadmap outlined in the 13th Five-Year Plan (2016-20), a U.S. business analyst said.

"While China's consumer sector continues to be a bright spot for the economy, the real potential has yet to be fully unleashed," Michael Zakkour, Vice President of China/Asia Pacific strategy and global digital practices at consulting firm Tompkins International told Beijing Review.

China will adopt a combination of measures to boost consumption capacity. The government will develop new forms and models of consumption both online and offline, improve logistics networks in rural areas and support the development of e-commerce and express delivery services, according to the 2019 Government Work Report delivered by Premier Li Keqiang on March 5.

Zakkour highlighted that there is a clear sign that the goals of the Titans of Chinese commerce and that of the Central Government are aligned as Alibaba's "New Retail" and JD.com "Smart Retail" initiatives both emphasize online-to-offline integration and focus on expanding logistics networks and digitizing the consumer journey and value stream.

To increase domestic consumption, the report emphasizes improving people's income. Ning Jizhe, deputy head of the National Development and Reform Commission, told a press conference on March 6 that efforts will be made to further increase people's take-home salaries, as well as reducing taxes and fees.

Consumption contributed 76.2 percent to China's GDP growth last year, making it the largest contributor to the country's economic growth for six consecutive years.

Copyedited by Craig Crowther

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