Consumers check out at a supermarket in Yangzhou, East China's Jiangsu province, July 9, 2026. [Photo/Xinhua]
China on Monday released its first five-year plan dedicated exclusively to expanding consumption, marking a significant upgrade in the top-level design for buoying domestic consumption.
With consumption having grown into the primary engine of China's economic growth, the plan is set to reinforce this momentum by unlocking the full potential of the country's super-large market, optimizing the consumption structure and improving people's livelihoods via targeted measures.
These efforts, while domestic in nature, also carry profound implications beyond China's borders, potentially reshaping global trade patterns and creating new opportunities for foreign companies, analysts said.
The dedicated five-year plan (2026-30) set a goal of raising total retail sales of consumer goods to around 60 trillion yuan ($8.8 trillion) by 2030 and further strengthening consumption's role in driving economic growth.
