China to Cut Curbs, Raise Incomes to Spur Spending
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Zheng Shanjie. Photo: VCG
China’s top economic planner has outlined a strategy to bolster domestic demand, focusing on lifting restrictions on spending in the short term while pushing for long-term measures to increase household incomes as a key part of the 15th Five-Year Plan.
In an article for a companion guide to Communist Party proposals for the five-year plan, which covers the 2026-2030 period, Zheng Shanjie, head of the National Development and Reform Commission, said one of the goals is to strengthen the domestic market as a buffer against external challenges.
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- China’s 15th Five-Year Plan (2026-2030) aims to boost domestic demand by easing spending restrictions and raising household incomes.
- Short-term measures include removing barriers in the consumer sector and expanding paid leave, while long-term efforts focus on stable employment and income growth.
- Investment priorities feature unleashing private investment, major infrastructure projects, and increased spending on elderly care, health, and tourism.
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What Happened When
- 2025：
- China’s top economic planner outlines a strategy to bolster domestic demand, focusing on lifting restrictions on spending in the short term.
- 2025：
- Beijing intensifies efforts to rebalance the economy toward consumer spending due to global and domestic challenges.
- 2025：
- Immediate priorities include removing unreasonable or one-size-fits-all restrictions in the consumer sector.
- 2025：
- Authorities call for better implementation of paid leave policies to address issues with employees being unable to take holidays.
- 2025：
- Other short-term measures: expand supply of high-quality goods and services, improve access for inbound tourists, adapt regulations for new consumption models.
- 2025：
- Immediate policy efforts to increase the share of household income in national income distribution and promote wage growth in line with economic growth.
- 2025：
- Government spending on public welfare to be raised as part of economic strategy.
- 2025：
- Focus on unleashing the potential of private investment by removing hurdles related to market access, resource acquisition, and legal protections.
- 2025：
- Call to improve price-formation mechanisms in transport and energy, and enhance support for investment projects to boost profitability.
- 2025：
- Projects to be launched in 2025 to focus on urban renewal, strategic transport corridors, new energy systems, and major scientific infrastructure.
- 2025：
- Projects aimed at stimulating consumption will focus on elderly and child care, health, and tourism infrastructure.
- 2025：
- Exploring an extension of compulsory education included on the agenda.
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