ECONOMY

China to Formulate Domestic Demand Strategy Through 2030

Published: Jan. 20, 2026 6:54 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

Wang Changlin, a vice chairman of the National Development and Reform Commission. Photo: VCG

China plans to formulate a strategy through 2030 to boost domestic demand, underscoring policymakers’ concern that domestic demand remains insufficient even after the economy grew 5% last year.

Wang Changlin, a vice chairman of the National Development and Reform Commission (NDRC), said at a briefing on Tuesday that China’s economy faces a “strong supply, weak demand” imbalance.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

China is formulating a 2030 strategy to boost domestic demand and address a “strong supply, weak demand” imbalance.
Over 360 million subsidy applications in 2023 generated 2.6 trillion yuan ($373 billion) in sales and contributed 0.6 percentage points to retail sales growth.
New measures include national subsidy standards for consumer goods, anti-fraud oversight, and efforts to stabilize employment and raise household incomes.

AI generated, for reference only

What Happened When

2025：: China's economy grew by 5%.

2025：: Over 360 million applications for subsidies were filed as part of the consumer goods trade-in program, generating more than 2.6 trillion yuan in sales and adding 0.6 percentage points to retail sales growth.

2026-01-19：: Wang Changlin, vice chairman of the NDRC, stated at a briefing that China's economy faces a 'strong supply, weak demand' imbalance, and discussed the planned strategy through 2030 to boost domestic demand.

AI generated, for reference only