... said that urban per capita disposal income increased 17.5 per cent in the first six months of the year with only 8.6 per cent growth rate in overall retail volume of consumer commodities. [2] This shows that people are reluctant to spend money. More statistics from the NBS indicate that the income growth of residents, especially that of rural residents, increased slowly compared to the growth of gross domestic product (GDP). [1] The low growth rate had a negative impact on the purchasing power and weakened domestic demand. During the past decades, exports contributed greatly to China's economic growth. Under the dual competitive pressure posed to China due to the hi-tech competence of the developed countries and the low price merit of the surrounding countries taking advantage of their currency devaluation, China's exports have curbed growth. In addition, potential uncertainty in international environment would worsen the condition of China's foreign trade. ...

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