{"id":549725,"date":"2026-07-14T19:34:22","date_gmt":"2026-07-14T19:34:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/549725\/"},"modified":"2026-07-14T19:34:22","modified_gmt":"2026-07-14T19:34:22","slug":"whats-at-stake-as-china-prioritises-household-spending-in-new-five-year-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/549725\/","title":{"rendered":"What\u2019s at stake as China prioritises household spending in new five-year plan"},"content":{"rendered":"

Beijing has elevated household spending<\/a> to a higher strategic priority, rolling out the country\u2019s first stand-alone five-year plan for consumption.The plan, unveiled on Monday by the National Development and Reform Commission (NDRC) and the Ministry of Commerce, sets a 2030 retail sales<\/a> target of 60 trillion yuan (US$8.85 trillion) \u2013 nearly 20 per cent higher than the 2025 level \u2013 as policymakers seek to steady growth amid sluggish expansion.<\/p>\n

\u201cThe country\u2019s consumer market is entering a critical period of expansion and quality improvement,\u201d the NDRC and the Ministry of Commerce said in a statement on Monday. They added that a buoyant retail market would eventually serve as a key growth engine for the national economy.<\/p>\n

It marked the first time Beijing had rolled out a dedicated five-year framework exclusively targeting consumption, Huatai Securities said in a report on Tuesday.<\/p>\n

\u201cIt places greater emphasis on cross-ministerial coordination and rolls out a full set of medium-to-long-term institutional frameworks,\u201d it added.<\/p>\n

Beijing did not publish a stand-alone blueprint for the retail market in its 14th five-year plan for 2021 to 2025, which listed consumption as one of the key areas for expanding domestic demand and powering economic activity.<\/p>\n","protected":false},"excerpt":{"rendered":"Beijing has elevated household spending to a higher strategic priority, rolling out the country\u2019s first stand-alone five-year plan…\n","protected":false},"author":2,"featured_media":549726,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2102,72,114,232892,113,7316,147306,61,60,46775,12051,15834,232893,232894,232895],"class_list":["post-549725","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-china","tag-e-house-china-research-and-development-institute","tag-economy","tag-goldman-sachs","tag-huatai-securities","tag-ie","tag-ireland","tag-ministry-of-commerce","tag-national-bureau-of-statistics","tag-national-development-and-reform-commission","tag-orient-futures","tag-wang-peicheng","tag-yan-yuejin"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/549725","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=549725"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/549725\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/549726"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=549725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=549725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=549725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}