BUSINESS

China Unveils Plan to Boost Consumption in Trillion-Yuan Markets

Published: Nov. 27, 2025 6:16 p.m. GMT+8

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Residents shop at a supermarket in Tianjin on Nov. 19, 2025. Photo: VCG

China has rolled out a new plan to cultivate three trillion-yuan consumer markets by 2027, stepping up efforts to revitalize domestic demand as economic growth faces headwinds.

The Ministry of Industry and Information Technology, the National Development and Reform Commission, and four other government bodies issued the implementation guidelines on Tuesday. The directive aims to establish three consumption sectors worth 1 trillion yuan ($141 billion) each and 10 hotspots worth 100 billion yuan each by 2027.

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This is an AI-generated English rendering of original reporting or commentary published by Caixin Media. In the event of any discrepancies, the Chinese version shall prevail.

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China plans to create three consumer markets each worth 1 trillion yuan by 2027, focusing on eco-friendly goods, rural expansion, and “interest consumption” like pet products and anime.
The plan aims for a mature supply-demand cycle by 2030 and includes boosting health, wellness, and heritage industries.
Retail sales growth slowed to 2.9% year-on-year in October 2024, but online sales rose 9.6% from January to October.

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What Happened When

May 2025：: Growth in total retail sales of consumer goods began to slow in China.

Between January and October 2025：: Nationwide online retail sales in China rose by 9.6%, largely driven by a 15.1% increase in food product sales.

October 2025：: China posted a 2.9% year-on-year growth in total retail sales of consumer goods.

November 25, 2025：: China’s Ministry of Industry and Information Technology, the National Development and Reform Commission, and four other government bodies issued implementation guidelines for cultivating three trillion-yuan consumer markets by 2027.

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