China's State Council approved the 15th Five‑Year plan to expand consumption,
directing stronger fiscal‑financial support to boost domestic demand. The plan
calls for increased government spending on social protection, coordinated use of
central budget investment and local government special bonds to back eligible
consumption infrastructure, and fuller deployment of fiscal‑financial
cooperation funds. It urges financial institutions to expand consumer lending
and step up credit to service‑sector firms, mandates optimization of
interest‑subsidy programs for personal consumer loans and loans to
service‑industry operators, and encourages insurers to develop protection
products for priority consumption areas.
