China vows to boost consumption amid US trade war
China’s Communist Party pledged on Thursday to dramatically increase consumer spending and strengthen internal economic demand over the next five years as senior officials wrapped up a major policy meeting in Beijing. The four-day closed-door session brought together roughly 200 elite Central Committee members and 170 alternates to map out the 15th Five-Year Plan beginning in 2026. State media reported leaders committed to rapid economic growth while confronting weak household spending, a prolonged property crisis and escalating trade friction with Washington.
The party vowed to expand investment and remove economic obstacles while maintaining strategic determination and confidence, according to the official Xinhua news agency. Analysts monitored the gathering for signals about core policy direction as the blueprint covering political, economic, social and environmental targets awaits legislative approval in March. The committee has convened four times for these planning sessions since starting its current term in 2022 as officials confront mounting pressures facing the world’s second-largest economy.
