{"id":331781,"date":"2026-03-06T09:18:09","date_gmt":"2026-03-06T09:18:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/331781\/"},"modified":"2026-03-06T09:18:09","modified_gmt":"2026-03-06T09:18:09","slug":"china-pivots-to-investing-in-people-strategy-as-growth-engine-switches-gears","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/331781\/","title":{"rendered":"China pivots to \u2018investing in people\u2019 strategy as growth engine switches gears"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">China will allocate more of its fiscal spending this year towards human capital and social safety nets, as Beijing seeks to boost domestic demand and unlock new growth through \u201cinvesting in people\u201d.<\/p>\n<p>\u201cEfforts must be sustained to optimise the expenditure structure, with greater emphasis on supporting the boosting of consumption, investing in people, and safeguarding people\u2019s livelihoods,\u201d Premier Li Qiang said in his <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/news\/china\/diplomacy\/article\/3345503\/takeaways-chinese-premier-li-qiangs-government-work-report?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">annual work report<\/a>, delivered during the opening session of the National People\u2019s Congress on Thursday.Incorporated into China\u2019s <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3345525\/china-step-tech-energy-and-decarbonisation-efforts-next-5-year-plan?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">15th five-year plan<\/a>, the \u201cinvesting in people\u201d concept reflects Beijing\u2019s shift in approach as it places greater reliance on the domestic market for future expansion amid global uncertainties, after decades of export-led growth and heavy investment in physical assets. This marks the first time the slogan has appeared in such a strategic policy blueprint.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Unlike Western strategies that prioritise tax cuts for the wealthy to drive growth, China is emphasising the need to improve public well-being, with specific targets now enshrined in policy road maps.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">In his report, the premier vowed to increase inputs in areas closely related to human development. These include formulating and implementing plans to boost residents\u2019 incomes; rolling out more supportive and friendly policies for childbearing; expanding support for senior care; and launching large-scale vocational skills training programmes.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Beijing has set seven livelihood-related goals among its 20 numerical targets for the five years, according to the full text of the 15th five-year plan released the same day. The plan guides China\u2019s policy priorities from 2026 to 2030.<\/p>\n<p><img decoding=\"async\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"e1o401188 css-1w1l3op e445x7d0\" loading=\"lazy\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/03\/1772788689_471_maxresdefault.jpg\"\/><\/p>\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewDuration\" class=\"css-1vqvq42 e1o401181\">04:30<\/p>\n<p data-qa=\"SCMPYoutubeVideoPreview-PreviewTitle\" class=\"css-zasw6y e1o401182\">China\u2019s fourth plenum: party leaders call for boosting self-reliance against \u2018raging storms\u2019<\/p>\n<p>China\u2019s fourth plenum: party leaders call for boosting self-reliance against \u2018raging storms\u2019<\/p>\n","protected":false},"excerpt":{"rendered":"China will allocate more of its fiscal spending this year towards human capital and social safety nets, as&hellip;\n","protected":false},"author":2,"featured_media":331782,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2102,72,84103,57904,114,65849,113,61,60,152942,5773,41404,150639,2232],"class_list":{"0":"post-331781","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-beijing","9":"tag-business","10":"tag-cai-fang","11":"tag-capital-economics","12":"tag-china","13":"tag-chinese-academy-of-social-sciences","14":"tag-economy","15":"tag-ie","16":"tag-ireland","17":"tag-julian-evans-pritchard","18":"tag-li-qiang","19":"tag-ministry-of-finance","20":"tag-national-peoples-congress","21":"tag-thursday"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/331781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=331781"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/331781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/331782"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=331781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=331781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=331781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}