US EditionChina Can Maintain High Growth and Transition to Consumer-Led Economy, Premier Li Says
- On June 25 in Tianjin, Premier Li Qiang expressed confidence that China can continue growing at a strong pace while transitioning to an economy driven more by consumer demand.
- This shift follows Beijing's goal to evolve from a manufacturing power to a mega-sized consumer market amid ongoing trade tensions and global uncertainties.
- Vice-Premier He Lifeng and official guidelines emphasize expanding domestic demand, supporting employment, and raising household incomes to boost consumption.
- A recent PBOC survey covering October-December 2024 found 61.4% of Chinese mainlanders prefer saving over spending, while China plans to allocate 138 billion yuan in subsidies during 2025.
- Despite challenges like weak consumer sentiment and deflation risks, Beijing aims for around 5% economic growth in 2025, signaling confidence in this economic transition.
16 Articles
16 Articles
The world's second largest economy suffers from weaker domestic consumption. The Chinese car industry is particularly affected. Manuela Kasper-Claridge reports from the "Summer-Davos" from Tianjin.
China to become both manufacturing leader and consumption powerhouse: Chinese Premier
As the world's second-largest consumer and importer market, China boasts nearly 50 trillion yuan ($7 trillion) in consumption, over 50 trillion yuan in investment, and 20 trillion yuan in imports, with tremendous growth potential in many areas, said
Will China finally become a consumer powerhouse?
Chinese Premier Li Qiang’s bold talk of building a “mega-sized consumer powerhouse” has a serious economic gravity problem. Although Li has only been on the job since March 2023, his boss, Xi Jinping, took the reins of power a decade earlier. Back in 2013, as Xi pledged to let market forces play a “decisive role” […] The post Will China finally become a consumer powerhouse? appeared first on Asia Times.
China can maintain high growth and transition to consumer-led economy, premier Li says | The Asahi Shimbun Asia & Japan Watch
TIANJIN, China--China’s Premier Li Qiang said on Wednesday he was confident the world’s No.2 economy could maintain a “relatively rapid” growth rate as it transitions from a manufacturing-led model to a consumer-driven one, a shift analysts say is key to securing its future.
Coverage Details
Bias Distribution
- 50% of the sources lean Left
To view factuality data please Upgrade to Premium
