{"id":62394,"date":"2025-08-06T10:35:09","date_gmt":"2025-08-06T10:35:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/62394\/"},"modified":"2025-08-06T10:35:09","modified_gmt":"2025-08-06T10:35:09","slug":"chinas-economists-weigh-pros-and-cons-of-consumption-benchmarks","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/62394\/","title":{"rendered":"China\u2019s economists weigh pros and cons of consumption benchmarks"},"content":{"rendered":"

As Beijing gathers public input on China\u2019s next five-year plan \u2013 a mission statement for the next half-decade of economic and social policy \u2013 how best to bolster domestic consumption has emerged as a topic of considerable debate as the country seeks new avenues for growth<\/a> amid a murky landscape for global trade.<\/p>\n

One point of contention among scholars and other influential thinkers is whether to set measurable consumption targets, in a similar fashion to other headline benchmarks like gross domestic product growth.<\/p>\n

Some have called for indicators such as the household consumption rate \u2013 the share of consumer spending in GDP \u2013 to be written into the blueprint, while others argue that such metrics are not operationally feasible as policy goals.<\/p>\n

Among those in favour is Chang Xiuze, an economist with the Academy of Macroeconomic Research under the National Development and Reform Commission \u2013 the country’s top economic planner \u2013 who has made this proposal on various occasions.<\/p>\n

\u201cFrom the perspective of the national strategy to expand domestic demand and the lives of ordinary people, could the \u2018household consumption rate\u2019 be listed separately in the 15th five-year plan as a national \u2018monitoring and assessment indicator\u2019?\u201d he wrote after a research trip to the northeastern province of Liaoning in June.<\/p>\n

In the note, compiled last month by the China Academy of Northeast Revitalisation think tank \u2013 where Chang serves as deputy director of the expert committee \u2013 he noted China\u2019s household consumption rate was a \u201clow\u201d 39.6 per cent in 2023.<\/p>\n

Similarly, Jin Keyu<\/a>, a professor at Hong Kong University of Science and Technology\u2019s school of business and management, said it would be \u201cfantastic\u201d if consumption became a \u201cyardstick\u201d for local governments to use as a measurement of success at a World Economic Forum event<\/a> in June.<\/p>\n","protected":false},"excerpt":{"rendered":"As Beijing gathers public input on China\u2019s next five-year plan \u2013 a mission statement for the next half-decade…\n","protected":false},"author":2,"featured_media":62395,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[46177,550,28,46175,46173,144,46179,46171,542,39797,19542,46174,12,101,1556,46125,46178,46176,32938,46172,13061,6132],"class_list":["post-62394","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-academy-of-macroeconomic-research","tag-beijing","tag-business","tag-central-committee","tag-chang-xiuze","tag-china","tag-china-academy-of-northeast-revitalisation","tag-china-consumption","tag-china-economy","tag-china-gdp","tag-communist-party","tag-domestic-consumption","tag-donald-trump","tag-economy","tag-gdp","tag-hong-kong-university-of-science-and-technology","tag-jin-keyu","tag-liaoning","tag-national-development-and-reform-commission","tag-standard-chartered-bank","tag-world-economic-forum","tag-xi-jinping"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/62394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=62394"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/62394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/62395"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=62394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=62394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=62394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}