China Unveils Comprehensive Plan to Boost Domestic Consumption by 2026

Kathmandu. The Chinese government has put forward a comprehensive plan to strengthen domestic demand and boost consumption in 2026. Speaking at a press conference on the eve of the fourth session of the 14th National People's Congress, spokesperson Lou Qinjian clarified that the government's priority is to solidify the domestic market while maintaining economic stability.

According to him, China will pay special attention to expanding the supply of high-quality consumer goods and services, thereby increasing consumption in the service sector. Programs for the exchange of consumer goods will be made more effective, which is expected to encourage citizens to use new and quality materials. Furthermore, a policy will be adopted to attract foreign and domestic investment by creating an internationally favorable consumption environment.

The government also aims to increase citizens' purchasing power through job creation and income growth. Special programs will be implemented to raise the income levels of residents in both urban and rural areas. A commitment has been expressed to improve the quality of life by reforming social sectors such as education, childcare, elderly care, and health security.

According to analysts, China has put forward the 'expanding domestic demand' strategy as a central policy to sustain economic growth while facing external challenges. Further policies and programs related to this are expected to be announced in the upcoming sessions.