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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
China , household , consumption , consumer , GDP , STAR50

Next In Business News

Wall St set for higher open as US-Iran ceasefire lifts sentiment
Golden Destinations’ IPO oversubscribed by 2.10 times
EPB proposes Main Market transfer
Infoline Tec subsidiary to purchase RM18.6mil factory buildings
PMW International ties up with STIDC for new Sarawak manufacturing facility
LSH unit secures Kuantan road upgrade contract
AIBIM: Islamic banking industry remains resilient amid Middle East uncertainties
Ringgit rises to 3.97 against US dollar at the close as US-Iran reaches ceasefire deal
Inta Bina bags RM32mil construction job
MNC Wireless to fund digital push with rights issue

Others Also Read