China Targets 60 Trillion Yuan in Retail Sales by 2030

China’s cabinet has approved a policy plan to expand domestic consumption, setting a goal of lifting annual retail sales of consumer goods to about 60 trillion yuan ($8.8 trillion) by 2030.

The State Council on Monday endorsed the document, drafted by the National Development and Reform Commission and the Ministry of Commerce, and instructed local governments to make consumption growth a top economic priority. China’s total retail sales reached 50.1 trillion yuan in 2025.