In a dynamic shift from export-led growth, China's strategic blueprint is set to revitalize its economy by boosting domestic consumption. Aiming for 2025, this ambitious plan seeks to create a self-sustaining cycle of prosperity by enhancing consumer confidence and purchasing power amid a backdrop of global uncertainties.
Key measures include driving wage growth, expanding job opportunities, and strengthening social security. Recent data released by the National Bureau of Statistics at a press briefing underscore the plan's positive momentum, highlighting how improved household incomes can translate into increased spending capacity.
Addressing rising living costs has also been central to this initiative. Efforts to ease the financial pressure on households—through affordable housing programs, expanded fiscal subsidies for healthcare, and enhanced childcare support—are expected to free up resources for broader consumption.
Furthermore, renewed investments in tourism and cultural consumption are poised to generate additional economic expansion and create more employment opportunities. This transformative pivot from an export-dependent model to a consumption-driven economy is inspiring a global dialogue among entrepreneurs, tech enthusiasts, and changemakers about sustainable growth in a rapidly evolving world.
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Can China's bold plan supercharge spending and reshape its economy？
cgtn.com
