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Consumption accounted for 78 percent of China's GDP growth during the first three quarters, an increase of 14 percentage points over the same period last year, official data shows.
Consumers check out festival-themed candies at a shopping center in Guangzhou, Guangdong province. [Photo provided to China Daily]
Creating more jobs to stabilize unemployment is a priority for the government as millions of workers face the prospect of redundancy due to mergers and reorganization in industries bogged down by overcapacity.
Cornell's Li said Chinese consumers will probably benefit from the change. "In the end, allowing foreign ownership benefits domestic consumers who can enjoy better-quality, more variety and lower prices," said Li.
Contact the writer at karlwilson@chinadailyapac.com.
来源：资阳报