New Economic Strategy Targets Domestic Demand and Global Partnerships
China has announced sweeping measures to revitalize consumer spending and strengthen foreign investment opportunities, signaling a dual focus on sustaining economic momentum. The policies, approved during a State Council meeting chaired by Premier Li Qiang, outline strategies to empower households while positioning China as a resilient hub for global business.
Empowering Domestic Consumption
The plan prioritizes increasing household incomes through wage growth reforms and diversified property-related revenue streams. It targets high-impact sectors like tourism, cultural activities, and winter sports industries to unlock spending potential. A consumer goods trade-in program will gain renewed support, while inbound tourism initiatives aim to attract international visitors.
Foreign Investment Reforms
Foreign enterprises are identified as key partners for job creation and industrial upgrades. New measures include expanding market access in pilot zones, simplifying merger procedures, and ensuring equal treatment in government procurement. The government will also streamline financing options for international businesses and promote equity investments.
Balancing Growth and Sustainability
While boosting high-end industrial capacities, the policies also address phasing out outdated production methods. A draft law on national development planning was approved for legislative review, suggesting long-term structural reforms.
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China unveils measures to boost consumer spending, foreign investment
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