China vows to raise household consumption 'significantly'


People walk on a promenade in Shanghai. — Reuters

BEIJING: China will increase the proportion of government investment for people's livelihoods and raise the percentage of household consumption of GDP "significantly" over the next five years, officials told reporters on Friday.

The comments came after China unveiled its outline for economic and other policy goals for 2026-2030 on Thursday, which showed the leadership prioritised manufacturing and technology-reliance over consumption.

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China , household , consumption , consumer , GDP , STAR50

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