China reveals special initiative plan to boost domestic consumption by enhancing consumer environment and providing high quality supply.
China has revealed a special initiative plan aimed at boosting domestic consumption, reinforcing its strategy to make domestic demand the primary driver of economic growth in the world’s second-largest economy.
Issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, the plan focuses on stimulating domestic demand, increasing spending power by raising incomes, and reducing financial burdens to encourage consumer activity.
The initiative also seeks to generate effective demand through high-quality supply, enhance the consumer environment, and address key barriers that limit spending. It is structured into eight major sections, integrating policies related to income growth, service consumption, big-ticket purchases, and an improved consumption ecosystem.
To promote steady wage growth, the plan suggests employment support measures tailored to economic conditions and adjustments to the minimum wage system. It also proposes expanding property income channels, including stabilizing the stock market and developing bond products suitable for individual investors.
Additionally, the plan explores unlocking property values legally owned by farmers through models like rental agreements, equity participation, and cooperative arrangements, offering new financial opportunities for rural communities.
A key focus is on traditional sectors such as housing and automobiles, alongside emerging industries like AI-powered products, low-altitude economy, and senior tourism. China also aims to accelerate technological innovation in fields like autonomous driving, smart wearables, ultra-high-definition video, brain-computer interfaces, robotics, and 3D printing to create new high-growth consumer markets.
The plan incorporates regional strategies, tailoring policies for rural areas, ice-and-snow-rich regions, and urban centers while granting local authorities flexibility in implementation based on regional needs. Support will be provided to transform ice-and-snow regions into world-class winter tourism destinations, while inbound tourism will be strengthened by expanding unilateral visa-free arrangements and optimizing regional entry policies.
By linking consumer spending with broader social goals such as elderly care, childcare support, and work-life balance, the plan positions consumption growth not just as an economic necessity, but as a path to improving overall quality of life in China.
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