China Emphasizes Domestic Demand in New 12-Year Growth Plan
- Plan aims to stimulate consumption, investment through 2035
- Housing not for speculating, but reasonable demand will be met
Packages outside a delivery center in Beijing, China, on Dec. 13.
Source: Bloomberg
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China plans to expand domestic demand so that it plays a greater role in economic growth as the country recovers from Covid, state media reported, saying external conditions have become “complex and grave.”
The plan’s main goal is to stimulate consumption and investment in the years to 2035, according to a statement published by the official Xinhua News Agency late Wednesday.