August 1, 2013 / 11:02 AM / 4 years ago

China's 2013 FDI flows to be higher than last year - commerce min

BEIJING, Aug 1 (Reuters) - China will see a small improvement in foreign direct investment (FDI) flows this year compared to a year ago and will also take measures to boost domestic consumption and distribution, Commerce Minister Gao Hucheng said on Thursday.

Gao also was quoted by official Xinhua News Agency as saying that China is confident of achieving its 8 percent trade growth target this year despite difficulties ahead.

China has tried to allay fears that the economy has slowed more than expected as it pushes through reforms, recently announcing a series of targeted support measures and expressing confidence in meeting its 7.5 percent growth target this year.

The politburo, China’s top decision-making body, has pledged stable economic growth in the second half of this year as it presses ahead with reforms and restructuring to make domestic consumption the main driver of economic growth.

China will study measures to provide cheap loans and government subsidies to support the development of wholesale markets for agricultural products and logistics centres, Gao said.

The central government will also encourage some local governments to give preferential interest rates for credit consumption, promoting the consumption of durable goods including household electrical appliances, household articles, and automobiles, he added.

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