Revitalizing Domestic Consumption in China

Chinese policymakers are shifting their focus towards revitalizing domestic consumption as a means to stimulate economic growth. With a higher savings rate and lower consumer spending compared to other economies, strategies are being developed to convert savings into spending, which could significantly bolster the economy in 2025. This approach aims to enhance consumer and business confidence, ultimately resulting in increased spending and a stronger growth rate. Despite long-term demographic challenges, tapping into consumer spending is seen as a vital step in supporting economic recovery.