China's State Council issued the 15th Five-Year Plan to accelerate agricultural and rural modernization, prioritizing expansion of rural consumption. The plan directs support for distributing new-energy vehicles (NEVs), smart home appliances and green building materials to rural markets; mandates development of recycling systems for waste appliances and furniture; and calls for upgrades to rural trade and logistics, promoting producer ties with e-commerce platforms, supermarkets, catering firms

2026-06-02

China's State Council issued the 15th Five-Year Plan to accelerate agricultural and rural modernization, prioritizing expansion of rural consumption. The plan directs support for distributing new-energy vehicles (NEVs), smart home appliances and green building materials to rural markets; mandates development of recycling systems for waste appliances and furniture; and calls for upgrades to rural trade and logistics, promoting producer ties with e-commerce platforms, supermarkets, catering firms and supply-and-marketing cooperatives to better align agricultural supply and sales. It also launches a county-level commercial quality-and-efficiency program advancing a 'Thousand Markets, Ten-Thousand Stores' renovation, and aims to grow rural services — including harvest markets, events, leisure camping, and expanded health, eldercare and childcare services.

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Ge Qing, director of the macroprudential management department at the PBOC’s Shanghai headquarters, said at a press briefing that building a global asset management centre in Shanghai is a priority to raise the city’s international financial centre standing and broaden practical uses for the renminbi. A mature, open asset management market will attract global capital into onshore RMB assets and strengthen the renminbi’s pricing, investment and reserve functions. He said expanding cross-border us