Page 9 - REPORT ON THE IMPLEMENTATION OF THE 2022 PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT AND ON THE 2023 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT

fixed-asset investment (excluding rural households) totaled 57.21 trillion yuan, an
increase of 5.1% over the previous year. Of this amount, investment in

infrastructure and manufacturing rose by 9.4% and 9.1% respectively, partly
making up for the losses caused by shrinking consumption.
2) Efforts were made to promote the gradual recovery of consumer spending.
We improved our policy system for boosting consumption, formulated and
released guidelines on further unleashing consumption potential to promote

sustained consumption recovery, and unlocked consumption potential through
combined measures.
We temporarily halved the purchase tax on eligible passenger vehicles and
extended the policy of purchase tax exemption for new-energy vehicles (NEVs). To

vigorously develop green consumption, we introduced an implementation plan for
boosting green consumption, designed corresponding mechanisms and policy
systems, and encouraged the purchase and use of NEVs, green and smart home
appliances, and green building materials in rural areas. We effectively tapped
consumption potential for big-ticket items such as automobiles and home

appliances. In 2022, 6.887 million NEVs were sold, representing a 93.4%
year-on-year increase. The market penetration rate of NEVs reached 25.6%, and
China ranked first in the world for the eighth consecutive year in terms of NEV
output and sales.

We integrated online and offline consumption, promoted online consumer
spending, and saw that contact-intensive sectors such as catering and hospitality,
transportation, and culture and tourism were gradually restored. We supported
the development of county-level commercial systems and supply chains for farm
produce. Retail sales of consumer goods totaled 43.97 trillion yuan last year,

including 13.79 trillion yuan in online sales.
3) Smoother flows in the economy were ensured.
We formulated and implemented a plan for developing modern logistics
during the 14th Five-Year Plan period to coordinate the development of national

logistics hubs, key national cold-chain logistics bases, and national demonstration
logistics parks. We facilitated deep integration of logistics and manufacturing and
accelerated the development of a modern distribution network underpinned by
key cities and major transportation corridors. We made greater efforts to
strengthen integrated national freight hubs, and we sped up the construction of a

number of such hubs and major projects in collection, distribution, and

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