Light industry: Consumption underestimated
(Chinanews.cn)
Updated: 2006-06-06 14:39
China's National Bureau of Statistics news spokesman Yao Jingyuan suggested
on June 3 that in the past, Chinese people's consumption ability and pursuit for
happiness were underestimated. During the 11th "Five-year Plan" period
(2006-2010), industries that adapt to the consumption structure revaluation will
become new investment hotspots.
Yao gave the following examples. In 1989,
there were a total of 10,000 cell phone users in China and the figure was
expected to reach 800,000 by 2000. It turned out that the number of mobile
phones in China soared to over 87 million in 2000, 100 folds higher than
expected. In 2005, there were more than 390 million cell phones in China, which
was far beyond the estimate of the government that year.
According to Yao, at present China has 39 industrial categories. The top one
is neither steel nor auto, but the electronic communication device manufacturing
industry with cell phone as the core.
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