The State Council approved an 'expand consumption' 15th Five‑Year plan targeting
total retail sales of consumer goods of about CNY60 trillion by 2030. The plan
aims to raise the household consumption rate and strengthen consumption's
contribute to growth, shift consumption toward services and digital channels,
expand development‑and‑upgrade consumption, and narrow urban‑rural, regional and
group consumption gaps. It also targets higher‑quality full employment, income
growth aligned with economic expansion, and a more sustainable social‑security
framework to support stronger household spending and steadier consumption
expectations.
