Xi Says China Must Boost Consumer Spending, Foreign Investment This Year

President Xi Jinping said China must prioritize restoring and expanding consumer spending this year, while working harder to attract and leverage foreign investment to boost expectations and restore market confidence.

Xi stressed the importance of consumption in bolstering the economy at a key annual meeting to set the economic policy agenda for 2023, saying the government needs to “fully unleash the consumption potential” of domestic residents, according to the latest issue of the Communist Party’s flagship magazine Qiushi, which was published Thursday.