Policy support set to boost consumption
1 year, 10 months ago

Policy support set to boost consumption

China Daily  

People choose products in a duty-free shop in Haikou, South China's Hainan province on Jan 26, 2023. The policy push, including the removal of administrative restrictions in the housing and automobile markets, is among China's priorities in order to revive the vibrancy of its consumer market because the central leadership has identified insufficient domestic demand as an acute challenge facing the nation's economic and social development, especially after three years of COVID-19 disruptions. Experts said they believe that strong and sustainable development of the Chinese consumer market underscores the country's larger strategic move toward building the dual-circulation development pattern because a healthy and prosperous consumer market is an integral part of China's domestic economic circulation, which actively interacts with the global markets. It reflects that the country's consumer market will usher in a new development paradigm in which consumer demand is constantly upgraded, requiring high-quality products and services to satisfy material and spiritual consumption needs, global accounting firm Deloitte said in its 2023 China Consumer Insight and Market Outlook report. The further expansion of China's consumer market will help promote the country's greater integration with global markets and bring changes in international trade as upgraded demand of Chinese consumers will mean more imports, experts said.

Global Policy Growth China Consumer Market Domestic Consumption Demand Chinese Domestic Demand Consumption Growth Support Set  demand  consumption  support  set  policy  domestic  boost  consumer  chinas  china  countrys  growth  market  global

History of this topic

GDP showing more signs of stabilizing
3 days, 15 hours ago

GDP showing more signs of stabilizing

China Daily  

Wu Xiaoqiu, Huang Qifan and Peng Sen at a high-level dialogue on China's reform and economic prospects during the ongoing Boao Forum for Asia Annual Conference 2025. This recovery trend is irreversible," Peng Sen, president of the China Society of Economic Reform, said during a high-level dialogue on China's reform and economic prospects during the ongoing Boao Forum for Asia …

Income redistribution seen as urgent task
4 days, 15 hours ago

Income redistribution seen as urgent task

China Daily  

China should look beyond short-term stimulus and decisively redistribute incomes to expand consumption, especially by transferring more State-owned wealth to the social welfare system, leading economists and policy researchers said. "Policymakers have begun prioritizing bolstering domestic consumption, but a long-term structural reform framework is essential beyond short-term measures," said Chen Yuyu, director of the Peking University Economic Policy Research Institute …

Retail giants bullish on consumption rebound
4 days, 15 hours ago

Retail giants bullish on consumption rebound

China Daily  

Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. LIU: The two sessions introduce policies focused on deepening reforms and expanding high-level opening-up, especially those in line with initiatives like the 2025 Action Plan for Stabilizing Foreign Investment. As an ultra-premium New Zealand pet food brand in China, Ziwi has experienced China's open and …

Retail giants bullish on consumption rebound
4 days, 15 hours ago

Retail giants bullish on consumption rebound

China Daily  

China Daily | Updated: 2025-03-25 10:30 Q4 Driving domestic consumption is one of the top priorities for China to spur economic growth this year. LIU: China's consumption potential remains robust, driven by a growing middle-income group and policy incentives like duty-free expansion. ZHANG: With its 1.4 billion population, China's market presents unparalleled potential for baked goods industry growth. YOOVIDHYA: China's …

MOC expects consumption to steadily grow this year
Trending News
4 days, 15 hours ago

MOC expects consumption to steadily grow this year

China Daily  

China's consumption market will continue to show a stable development trend this year, fueled by the continuous efforts of various policies and measures to help expand domestic consumption, the Ministry of Commerce said on Tuesday. In the first two months of this year, total retail sales of consumer goods reached 8.37 trillion yuan, up 4 percent year-on-year, and the growth …

MOC expects consumption to steadily grow this year
Trending News
4 days, 15 hours ago

MOC expects consumption to steadily grow this year

China Daily  

China's consumption market will continue to show a stable development trend this year, fueled by the continuous efforts of various policies and measures to help expand domestic consumption, the Ministry of Commerce said on Tuesday. In the first two months of this year, total retail sales of consumer goods reached 8.37 trillion yuan, up 4 percent year-on-year, and the growth …

Retail giants bullish on consumption rebound
Top News
4 days, 15 hours ago

Retail giants bullish on consumption rebound

China Daily  

China Daily | Updated: 2025-03-25 10:30 Editor's Note: This year marks a critical milestone as China concludes its 14th Five-Year Plan. LIU: The two sessions introduce policies focused on deepening reforms and expanding high-level opening-up, especially those in line with initiatives like the 2025 Action Plan for Stabilizing Foreign Investment. As an ultra-premium New Zealand pet food brand in China, …

Increasing consumption to drive quality growth
1 week, 3 days ago

Increasing consumption to drive quality growth

China Daily  

LI MIN/CHINA DAILY The third session of the 14th National People's Congress set China's economic agenda for 2025, with special focus on boosting demand and enhancing investment efficiency. Domestic demand can be divided into two parts: personal consumption and public consumption, with public consumption primarily focusing on public services and infrastructure development. To increase consumer spending, the central and local …

China's retail sales, investment pick up pace
1 week, 5 days ago

China's retail sales, investment pick up pace

China Daily  

China's economy continued to recover in the first two months this year as consumption and investment showed improvement, official data showed on Monday, making a steady start for 2025. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 5.9 percent over the January-February period from a year earlier after a …

China's retail sales, investment pick up pace
1 week, 5 days ago

China's retail sales, investment pick up pace

China Daily  

By Ouyang Shijia | chinadaily.com.cn | Updated: 2025-03-17 10:00 China's economy continued to recover in the first two months this year as consumption and investment showed improvement, official data showed on Monday, making a steady start for 2025. China's value-added industrial output - a gauge of activity in the manufacturing, mining and utilities sectors - grew by 5.9 percent over …

China economy: Beijing unveils plan to boost consumption as Trump tariffs bite
1 week, 6 days ago

China economy: Beijing unveils plan to boost consumption as Trump tariffs bite

CNN  

Hong Kong CNN — China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump. The plan builds on Premier Li Qiang’s promise during a major political meeting earlier this month to ensure that the “giant ship of China’s economy” will “sail steadily …

China set to stimulate growth amid global uncertainty
2 weeks, 4 days ago

China set to stimulate growth amid global uncertainty

China Daily  

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. Experts provide insights on the country's economic trends amid global uncertainties, and delve into China's evolving role as a primary driver of global growth. Below are some excerpts: Stimulating domestic demand key to stabilizing markets The Government Work Report submitted to the National People's Congress, China's …

China says it has ‘ample’ policy tools to spur growth
3 weeks, 1 day ago

China says it has ‘ample’ policy tools to spur growth

Live Mint  

China’s finance minister said Thursday that the government has ample policy tools and flexibility to address both internal and external uncertainties, amid escalating trade tensions with the U.S. China’s central bank governor, Pan Gongsheng, said in the same press conference that the bank would cut interest rates and banks’ reserve requirement ratio at an appropriate time this year. To support …

Trump wants US to make more, Xi wants China to spend more: Both aim to tame headwinds
3 weeks, 2 days ago

Trump wants US to make more, Xi wants China to spend more: Both aim to tame headwinds

Firstpost  

The Chinese economy has always been exports-driven, with less reliance on domestic consumption. For instance, consumption accounts of just 40 per cent of China’s GDP; whereas the figure hovers near 50 to 70 per cent in developed economies worldwide China over the past decades became ‘the factory’ of the world and a giant economy by selling goods worth hundreds of …

Country should explore strengths to consolidate base for recovery
3 weeks, 2 days ago

Country should explore strengths to consolidate base for recovery

China Daily  

Employees work on a production line of NEV maker BYD in Xi'an, Shaanxi province. This year, the economy is poised to benefit from the synergistic effects of innovation-driven growth, domestic demand expansion, private enterprise empowerment and the revaluation of Chinese assets by international capital. DeepSeek, a Chinese private artificial intelligence startup, exemplifies the breakthrough advancements in China's AI sector, even …

New GDP target shows emphasis on necessity, feasibility
Trending News
3 weeks, 2 days ago

New GDP target shows emphasis on necessity, feasibility

China Daily  

China's determination to keep its economic growth target for this year at around 5 percent, unchanged from the previous year, reflects a realistic and pragmatic approach in the face of external headwinds and internal economic adjustments, global experts said. Noriyuki Kawamura, emeritus professor at Nagoya University of Foreign Studies in Japan, said: "The target of around 5 percent GDP growth …

New GDP target shows emphasis on necessity, feasibility
Trending News
3 weeks, 2 days ago

New GDP target shows emphasis on necessity, feasibility

China Daily  

China's determination to keep its economic growth target for this year at around 5 percent, unchanged from the previous year, reflects a realistic and pragmatic approach in the face of external headwinds and internal economic adjustments, global experts said. Noriyuki Kawamura, emeritus professor at Nagoya University of Foreign Studies in Japan, said: "The target of around 5 percent GDP growth …

Japanese experts highlight China's focus on stimulating consumption, growth
3 weeks, 2 days ago

Japanese experts highlight China's focus on stimulating consumption, growth

China Daily  

A tourist rides a bike at a scenic area in Handan, North China's Hebei province, April 8, 2024. Japanese academics emphasized that revitalizing consumer spending is a crucial strategy, noting that China's focus on social welfare and boosting consumption as outlined in the 2025 Government Work Report reflects the country's current economic landscape. "With investment in real estate and wealth …

More consumption incentives needed
3 weeks, 2 days ago

More consumption incentives needed

China Daily  

Heightened efforts are needed to allow more households in townships and counties to enjoy consumption-friendly subsidies from the consumer goods trade-in program, and reinforce the dominant position of enterprises in technological innovation, said Jia Shaoqian, chairman of Chinese home appliance manufacturer Hisense Group. "The country's consumer goods trade-in program has not only stimulated the consumer market and bolstered consumption upgrades, …

Sustaining economic growth and other takeaways from the start of China’s legislative session
3 weeks, 3 days ago

Sustaining economic growth and other takeaways from the start of China’s legislative session

Associated Press  

BEIJING — China on Wednesday kicked off its annual parliamentary session, the National People’s Congress, which outlines the government’s priorities for the year. Share Share Copy Link copied Email Facebook X Reddit LinkedIn Pinterest Flipboard Print The main priority outlined in Li’s report was addressing “inadequate domestic demand, particularly insufficient consumption,” as well as making “domestic demand the main engine …

China's consumption upgrade presenting new opportunities
Trending News
1 month ago

China's consumption upgrade presenting new opportunities

China Daily  

A consumer shops at a supermarket in Tengzhou, Shandong province, on April 11. SUN YANG/XINHUA BEIJING — Whether it's purchasing premium goods at large supermarkets, selecting the latest smart home appliances at electronics stores, or indulging in cross-border travel, China's consumer market is demonstrating recovery and ongoing upgrades. Walmart's results report for its third fiscal quarter in 2024 revealed that …

China's consumption upgrade presenting new opportunities
Trending News
1 month ago

China's consumption upgrade presenting new opportunities

China Daily  

A consumer shops at a supermarket in Tengzhou, Shandong province, on April 11. SUN YANG/XINHUA BEIJING — Whether it's purchasing premium goods at large supermarkets, selecting the latest smart home appliances at electronics stores, or indulging in cross-border travel, China's consumer market is demonstrating recovery and ongoing upgrades. Walmart's results report for its third fiscal quarter in 2024 revealed that …

Trade-in initiative to be expanded
1 month, 1 week ago

Trade-in initiative to be expanded

China Daily  

JIN DING/CHINA DAILY With boosting domestic consumption high on China's policy agenda for 2025, the country's consumer goods trade-in initiative is set to play a crucial role in driving economic growth and offsetting the impact of persistent global trade protectionism and tepid external demand, officials and experts said. The trade-in initiative implemented last year has proved effective in spurring consumer …

Household spending key to strong growth
1 month, 1 week ago

Household spending key to strong growth

China Daily  

As China navigates a decline in the property market and rising global economic uncertainties, consumption is poised to assume an even more crucial role in driving the country's economic growth this year, analysts said. According to analyses conducted using World Bank data, the average consumption rate among 10 major economies, accounting for 63 percent of global GDP collectively, stood at …

Trade-in initiative to be expanded
1 month, 1 week ago

Trade-in initiative to be expanded

China Daily  

JIN DING/CHINA DAILY With boosting domestic consumption high on China's policy agenda for 2025, the country's consumer goods trade-in initiative is set to play a crucial role in driving economic growth and offsetting the impact of persistent global trade protectionism and tepid external demand, officials and experts said. The trade-in initiative implemented last year has proved effective in spurring consumer …

China's economy poised for steady growth in 2025: central bank
1 month, 2 weeks ago

China's economy poised for steady growth in 2025: central bank

China Daily  

BEIJING -- China's economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People's Bank of China on Thursday. China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said. Monetary authorities will deepen market-driven …

Initiatives to boost consumption in Shandong
1 month, 2 weeks ago

Initiatives to boost consumption in Shandong

China Daily  

A conference is held in Shandong, focusing on boosting consumption across the province. Shandong is taking significant steps to boost consumption, focusing on creating new brands in the service sector and further popularizing the consumption model with the assistance of artificial intelligence, as revealed at a conference on boosting consumption across Shandong province held on Feb 12. Shandong will carefully …

China's economy poised for steady growth in 2025: central bank
1 month, 2 weeks ago

China's economy poised for steady growth in 2025: central bank

China Daily  

BEIJING -- China's economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People's Bank of China on Thursday. China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said. Monetary authorities will deepen market-driven …

Chinese economy expected to rebound continuously in 2025: economist
Trending News
1 month, 2 weeks ago

Chinese economy expected to rebound continuously in 2025: economist

China Daily  

The skyline of Beijing. The Chinese economy is expected to rebound continuously in 2025 despite new variables, an economist said as reported by Chinese financial news outlet Yicai on Sunday. The unprecedented popularity of the domestic cultural and travel consumption market during the Spring Festival holiday and the emergence of DeepSeek AI model have contributed to people's confidence in the …

Raising incomes should be focus in boosting consumption
1 month, 2 weeks ago

Raising incomes should be focus in boosting consumption

China Daily  

By Zhao Jian | China Daily | Updated: 2025-02-10 09:39 Shoppers seen at a supermarket in Zaozhuang, Shandong province. To this end, China's five-year plan entering a new stage offers an opportunity for policymakers to bring changes in making development plans, with a focus shift away from industry and more toward consumption, which will involve a profound transformation in the …

CPI growth accelerates on holiday spending
1 month, 2 weeks ago

CPI growth accelerates on holiday spending

China Daily  

China's economy is showing fresh signs of recovery as consumer inflation accelerated in January due to the influence of the Spring Festival holiday, official data showed on Sunday, pointing to a gradual recovery in domestic demand. Feng said the recovery in market demand has yet to provide strong support for industrial products price growth, noting that the "timing of the …

CPI growth accelerates on holiday spending
1 month, 2 weeks ago

CPI growth accelerates on holiday spending

China Daily  

China's economy is showing fresh signs of recovery as consumer inflation accelerated in January due to the influence of the Spring Festival holiday, official data showed on Sunday, pointing to a gradual recovery in domestic demand. Feng said the recovery in market demand has yet to provide strong support for industrial products price growth, noting that the "timing of the …

Shandong residents go on shopping spree during consumption season
2 months ago

Shandong residents go on shopping spree during consumption season

China Daily  

Residents of Shandong province in East China are enjoying a shopping spree for the upcoming Chinese New Year holiday as a Spring Festival consumption season has been launched across all 16 cities in the province. Consumption played a crucial role as a "ballast" and stabilizer, with the province's total retail sales of consumer goods reaching 3.8 trillion yuan, growing by …

Consumers to play bigger role in spurring growth
2 months ago

Consumers to play bigger role in spurring growth

China Daily  

A consumer checks out Lenovo laptops in Shanghai in May. CHINA DAILY China's consumption, powered by a more proactive fiscal policy and a moderately loose monetary policy, will bring out greater vitality and play a bigger role in spurring overall economic growth this year, said officials and executives. In particular, the country's trade-in initiatives, which have contributed to a more …

Great strides in energy landscape
2 months ago

Great strides in energy landscape

China Daily  

China has further solidified its position as the world's largest producer and consumer of energy, continuously shaping the global energy landscape throughout last year, according to a think tank. The country's energy consumption in 2024 grew by 4 percent compared to the previous year, driving global demand for primary energy up by 1.9 percent, according to a report released by …

Shandong conference seeks to boost consumption, open up further
2 months, 1 week ago

Shandong conference seeks to boost consumption, open up further

China Daily  

The 2025 Shandong Provincial Commercial Work Conference is held in Jinan on Jan 16. Faced with ever-changing conditions, Shandong made efforts to boost consumption and stabilize foreign trade and foreign investment in 2024. Remarkable results of the province's commercial work in 2024 were announced on the 2025 Shandong Provincial Commercial Work Conference, which was held in Jinan, the capital city …

China's home appliance sales surge in 2024 under trade-in scheme
2 months, 1 week ago

China's home appliance sales surge in 2024 under trade-in scheme

China Daily  

Xinhua | Updated: 2025-01-20 09:40 BEIJING - China's sales of home appliances surged in 2024 under its policy-backed trade-in program, according to the Ministry of Commerce on Saturday. Retail sales of home appliances and audio and visual equipment under the scheme reached 1.03 trillion yuan in 2024, according to data from the National Bureau of Statistics. To stimulate consumer spending …

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
2 months, 1 week ago

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures

The Hindu  

China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, helped by strong exports and recent stimulus measures. Exports expanded 7.1% in annual terms, while imports grew 2.3% The world’s second largest economy has struggled with weaker consumer spending and resulting deflationary pressures as its …

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures
2 months, 1 week ago

China’s economy expands 5% in 2024, hitting target helped by strong exports, stimulus measures

Associated Press  

HONG KONG — China’s economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and recent stimulus measures. “Particularly, with a package of incremental policies being timely rolled out, public confidence was effectively bolstered and the economy recovered remarkably,” it said. “We …

New urbanization a fresh growth impetus
2 months, 2 weeks ago

New urbanization a fresh growth impetus

China Daily  

MA XUEJING/CHINA DAILY As China's economy shifts from rapid growth to high-quality development, the policy of new urbanization has become key to unlocking domestic demand and promoting balanced regional development. The core of new urbanization rests on three key principles: people-centered urbanization, urban-rural coordination, and balanced regional development, as well as green and sustainable development. By promoting green building practices, …

New urbanization a fresh growth impetus
2 months, 2 weeks ago

New urbanization a fresh growth impetus

China Daily  

MA XUEJING/CHINA DAILY As China's economy shifts from rapid growth to high-quality development, the policy of new urbanization has become key to unlocking domestic demand and promoting balanced regional development. The core of new urbanization rests on three key principles: people-centered urbanization, urban-rural coordination, and balanced regional development, as well as green and sustainable development. By promoting green building practices, …

Can rice cookers and microwaves help save China’s economy?
2 months, 2 weeks ago

Can rice cookers and microwaves help save China’s economy?

Firstpost  

China is expanding its trade-in programme to include household appliances like rice cookers and microwaves, offering subsidies to stimulate consumer spending. File Image/Reuters China, the world’s second-largest economy, is grappling with weak consumer demand, a deepening property crisis, and high unemployment rates, all of which have slowed growth and raised fears of deflation. China expands scope of subsidies China’s trade-in …

China expands consumer subsidies to boost spending as tariff risk looms
2 months, 3 weeks ago

China expands consumer subsidies to boost spending as tariff risk looms

Live Mint  

China is widening the scope of its consumer goods trade-in program this year, as Beijing intensifies efforts to convince cautious households to spend as rising external uncertainties threaten exports’ ability to prop up economic growth. The National Development and Reform Commission, China’s top economic planner, said Wednesday that the government will include more products in its home appliance trade-in program …

China confident in promoting continuous economic recovery in 2025: official
2 months, 3 weeks ago

China confident in promoting continuous economic recovery in 2025: official

China Daily  

BEIJING -- When setting economic growth targets for 2025, China will consider both needs and possibilities and ensure coherence with medium and long-term planning, an official with the country's top economic planner said on Friday. A senior National Development and Reform Commission official, Yuan Da, told a press conference that China's economy will face many new difficulties and challenges in …

China to increase funding support for equipment upgrades, consumer goods trade-in programs
2 months, 3 weeks ago

China to increase funding support for equipment upgrades, consumer goods trade-in programs

China Daily  

Customers apply for subsidies under the trade-in program in Hangzhou, Zhejiang province, in October. BEIJING -- China will significantly increase the issuance of ultra-long special treasury bonds in 2025 to support the implementation of large-scale equipment upgrades and consumer goods trade-in programs, according to a government press conference held here Friday. Yuan Da, deputy secretary-general of the National Development and …

China’s Services Activity Jumps as Stimulus Boosts Local Demand
2 months, 4 weeks ago

China’s Services Activity Jumps as Stimulus Boosts Local Demand

Live Mint  

China’s services activity expanded at the fastest pace in nine months while the manufacturing sector grew for a third straight month, signaling improving domestic demand after Beijing’s stimulus blitz. “But the boost probably won’t last more than a few quarters, with Trump likely to follow through on his tariff threat next year and persistent structural imbalances still weighing on the …

Prospects for 2025 are visible in the end-of-year haze
3 months ago

Prospects for 2025 are visible in the end-of-year haze

Live Mint  

Wintry January mornings are known to obscure clear 20/20 vision. With Donald Trump promising to weaponize tariffs and clamp immigrant flows, while mocking climate change and taking an axe to the US’s multilateral commitments, large-scale unpredictability is likely to undergird the next 12 months. One direct outcome of Trump imposing reciprocal tariffs against Indian exports will be a marginal erosion …

China’s Finance Ministry Vows Greater, Faster Spending in 2025
3 months ago

China’s Finance Ministry Vows Greater, Faster Spending in 2025

Live Mint  

China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs. China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statement published Tuesday following a two-day national conference held by the Ministry of Finance …

Targeted measures to boost consumption
3 months, 1 week ago

Targeted measures to boost consumption

China Daily  

Consumers check out festive products in Nanjing, Jiangsu province, on Friday. LIU JIANHUA/FOR CHINA DAILY China will roll out an array of targeted measures to simultaneously boost consumption and deliver tangible benefits to the people after policymakers signaled a shift in prioritizing the expansion of domestic demand amid external uncertainties during a recent tone-setting meeting, officials and analysts said. "Boosting …

Six key points to watch as China plans its 2025 economic roadmap
3 months, 1 week ago

Six key points to watch as China plans its 2025 economic roadmap

China Daily  

Shoppers buy groceries at a supermarket in Shijiazhuang, Hebei province. Analysts believe the multipronged policy announcements from the meeting -- including the adoption of more proactive macro policies, measures to boost domestic demand and efforts to stabilize the property market -- will support stable economic growth, safeguard jobs and consumer prices, boost people's income, and enhance China's appeal to foreign …

Discover Related