{"id":25727,"date":"2025-03-16T16:48:33","date_gmt":"2025-03-16T11:48:33","guid":{"rendered":"https:\/\/bigbreakingwire.in\/?p=25727"},"modified":"2025-03-16T17:18:35","modified_gmt":"2025-03-16T11:48:35","slug":"china-action-plan-boost-domestic-consumption","status":"publish","type":"post","link":"https:\/\/bigbreakingwire.in\/china-action-plan-boost-domestic-consumption\/","title":{"rendered":"China Unveils Action Plan to Boost Domestic Consumption"},"content":{"rendered":"
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China’s State Council<\/a> and the Communist Party of China (CPC) Central Committee have introduced a comprehensive “Action Plan to Revitalize Consumption” aimed at stimulating domestic demand. The plan includes a series of measures to increase household incomes, enhance consumption capacity, upgrade services, and improve the overall spending environment.<\/p>\n\n\n\n

Key Initiatives to Drive Economic Growth<\/strong><\/p>\n\n\n\n

1. Raising Incomes to Strengthen Spending Power<\/strong><\/p>\n\n\n\n

One of the plan\u2019s primary focuses is increasing urban and rural incomes to encourage higher consumer spending. Key steps include:<\/p>\n\n\n\n

Raising minimum wages across regions.<\/p>\n\n\n\n

Expanding work-relief programs to provide job opportunities.<\/p>\n\n\n\n

Cracking down on delayed wage payments for small and medium enterprises (SMEs).<\/p>\n\n\n\n

To provide alternative income channels, China also plans to strengthen its stock markets, improve long-term capital market access, and enhance state-owned enterprise (SOE) value management.<\/p>\n\n\n\n

2. Expanding Consumption Capacity<\/strong><\/p>\n\n\n\n

The government aims to make everyday necessities more affordable while increasing support for families and retirees. Major initiatives include:<\/p>\n\n\n\n

Childcare subsidies to reduce the financial burden on parents.<\/p>\n\n\n\n

Expansion of education and healthcare services to improve accessibility.<\/p>\n\n\n\n

Raising pensions in 2025 to support the elderly.<\/p>\n\n\n\n

In healthcare, China will fully implement a personal pension system, expand insurance coverage for flexible workers, and broaden occupational injury protection.<\/p>\n\n\n\n

3. Improving Service Quality and Consumer Experience<\/strong><\/p>\n\n\n\n

The plan also focuses on improving service-based consumption through better infrastructure and accessibility. Measures include:<\/p>\n\n\n\n

Upgrading elderly-friendly public infrastructure.<\/p>\n\n\n\n

Promoting community-based childcare and home services.<\/p>\n\n\n\n

Enhancing tourism experiences with extended scenic spot hours and simplified approvals for nationwide events.<\/p>\n\n\n\n

To further boost tourism, China will launch a special Ice and Snow Tourism Promotion Plan to attract visitors to winter destinations.<\/p>\n\n\n\n

4. Encouraging Major Consumption Upgrades<\/strong><\/p>\n\n\n\n

To stimulate demand for high-value goods, the government is introducing a nationwide trade-in program for cars, home appliances, and smart devices. Additional policies include:<\/p>\n\n\n\n

Supporting the second-hand goods market to increase affordability.<\/p>\n\n\n\n

Accelerating urban village renovations to improve living conditions.<\/p>\n\n\n\n

Allowing special bonds for government housing purchases to stabilize the real estate market.<\/p>\n\n\n\n

5. Promoting High-Quality Consumption<\/strong><\/p>\n\n\n\n

China is focusing on branding and innovation to enhance its consumer market. Some strategies include:<\/p>\n\n\n\n

Developing “China Service” brands to improve service industry standards.<\/p>\n\n\n\n

Encouraging the growth of cultural and intellectual property (IP) products.<\/p>\n\n\n\n

Boosting AI-driven consumption in autonomous driving and smart wearables.<\/p>\n\n\n\n

Additionally, the government is supporting the low-altitude economy, which includes drone-based tourism, yacht registration streamlining, and enhanced cruise routes.<\/p>\n\n\n\n

6. Creating a Consumer-Friendly Environment<\/strong><\/p>\n\n\n\n

The action plan also prioritizes consumer rights and fair pricing. Some key steps include:<\/p>\n\n\n\n

Enforcing paid leave rights to encourage work-life balance.<\/p>\n\n\n\n

Launching a three-year consumer protection campaign.<\/p>\n\n\n\n

Cracking down on fake products and unfair pricing practices.<\/p>\n\n\n\n

To enhance rural and urban retail distribution, China plans to build county-level logistics hubs, upgrade night-time shopping districts, and introduce immersive retail spaces.<\/p>\n\n\n\n

7. Removing Barriers to Consumption<\/strong><\/p>\n\n\n\n

To make consumer spending easier, China is introducing policies to remove unnecessary restrictions, such as:<\/p>\n\n\n\n

Banning “one-size-fits-all” policies that limit consumer choices.<\/p>\n\n\n\n

Easing auto purchase restrictions for individuals who have been waiting for long-term license plate approvals.<\/p>\n\n\n\n

Supporting traditional festival activities to boost local economies.<\/p>\n\n\n\n

Coordinated Implementation for Economic Growth<\/strong><\/p>\n\n\n\n

This action plan emphasizes a cross-departmental approach, ensuring smooth coordination between the central government, local authorities, and businesses. By addressing income levels, service quality, and market accessibility, China aims to drive sustainable, consumption-led economic growth in the coming years.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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