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China’s 2030 Retail Ambition: The $8.8 Trillion Consumption Target and Its Global Ripple Effects
Overview
China's 15th Five-Year Plan (2026-2030) marks a major shift in economic strategy by making domestic consumption the main driver of growth. The plan, officially approved by the State Council, sets an ambitious goal to raise total retail sales of consumer goods to about 60 trillion yuan by 2030. To achieve this, China will expand services consumption, upgrade goods consumption, and implement targeted actions across sectors. This approach aims to reduce reliance on exports and investment, positioning consumption as the foundation for sustainable development and long-term economic stability.