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 contribution 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 econom

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 contribution 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.