China Plans New Measures to Promote Services Consumption and Economic Rebalancing
China aims to lift household consumption to 45 percent of GDP by 2030 through new service sector incentives. The plan targets healthcare and elderly care.
Insights:
China 
CNis planning to introduce new measures to promote services consumption, including elderly care, healthcare, and leisure, as part of a strategic effort to offset weak goods demand and rebalance the national economy toward consumption-driven growth. Beijing authorities have vowed to significantly lift household consumption’s share of the economy over the next five years, with policy advisers recommending a target of 45% by 2030, up from approximately 40% currently. This commitment to a 500-basis-point increase represents a fundamental reorientation of the economic policy in Chinaaway from its traditional manufacturing and export dependence.
CNis planning to introduce new measures to promote services consumption, including elderly care, healthcare, and leisure, as part of a strategic effort to offset weak goods demand and rebalance the national economy toward consumption-driven growth. Beijing authorities have vowed to significantly lift household consumption’s share of the economy over the next five years, with policy advisers recommending a target of 45% by 2030, up from approximately 40% currently. This commitment to a 500-basis-point increase represents a fundamental reorientation of the economic policy in Chinaaway from its traditional manufacturing and export dependence.
