Consumption Will Become China’s Top Economic Driver, Xinhua Says

Consumption will become China’s top economic-growth driver in 2012 for the first time in almost 10 years, Xinhua News Agency reported, citing a research institute under the Ministry of Commerce.

Contribution to gross domestic product from consumption will surpass that of investment this year, Xinhua said, citing the report from the Chinese Academy of International Trade and Economic Cooperation. Still, growth in retail sales will be slower than last year’s 17 percent, Xinhua reported.

To contact the reporter on this story: Jing Yang in Shanghai at

To contact the editor responsible for this story: Nicholas Wadhams at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.