China to boost consumption, residents' income
Source: Xinhua | 2026-03-05 | Editor:Rachel
China will actively boost consumption and implement an income growth plan for urban and rural residents, according to a government work report submitted Thursday to the country's top legislature for deliberation.
The country will advance special initiatives to bolster consumption, with the roll-out of a range of practical measures to boost the earnings of low-income groups, increase property income, and refine the remuneration and social security systems in 2026, according to the report.
A total of 250 billion yuan (36.17 billion U.S. dollars) in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs, and a special fiscal-financial coordination fund of 100 billion yuan will be created to facilitate domestic demand expansion.
As for the 2026-2030 period, China aims to achieve a notable increase in household consumption as a share of gross domestic product, making domestic demand a more prominent economic driver, according to a draft outline of the 15th Five-Year Plan (2026-2030) also submitted Thursday.
China will explore new employment space in digital economy, green economy and silver economy, promote the healthy development of the real estate sector and the stock market, and unleash the potential of service consumption, said the draft outline.
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