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About this Episode
China is expected to put boosting domestic demand — especially spurring consumption — at the core of its economic agenda this year, with policymakers likely to roll out stronger fiscal support and structural reforms to further unlock the potential of household spending, a senior expert said.
资深专家表示，今年我国将把扩大内需尤其是激发消费潜力置于经济工作核心位置，预计决策层将推出更有力的财政支持政策和结构性改革举措，进一步释放家庭消费潜能。
Wang Wei, senior researcher and former director of the Institute of Market Economy at the Development Research Center of the State Council, said that to ensure stable economic growth during the 15th Five-Year Plan (2026-30) period, China needs to achieve a notable increase in final consumption as a share of GDP.
国务院发展研究中心市场经济研究所原所长、二级研究员王微表示，为确保"十五五"时期（2026-2030年）经济稳定增长，我国需要显著提升最终消费占GDP比重。
"That means China's future economic growth will need to rely more on domestic demand — particularly on the sustained, steady growth and innovation of consumption — to provide effective support for overall growth," Wang said during a recentexclusive interview with China Daily.
王微日前接受《中国日报》独家专访时表示，这意味着未来中国经济增长需更多依靠内需，特别是消费持续平稳增长与创新，为整体增长提供有效支撑。
She said China has finished the "from nothing to something" stage of household consumption over the past four decades, but the next phase — especially under high-quality development- must focus on improving consumption quality and expanding the space for development-driven consumer demand.
她指出，过去四十年我国已走过家庭消费"从无到有"的阶段，下一阶段特别是高质量发展背景下，必须着力提升消费品质、拓展发展型消费需求空间。
"Services consumption such as education, healthcare, culture, sports, entertainment and eldercare will have very large room for growth as people's living standards rise. With the impact of technological innovation, many new forms of innovative consumption are also entering daily life, forming new drivers of growth."
随着人民生活水平提高，教育、医疗、文化、体育、娱乐、养老等服务消费将拥有巨大增长空间。在科技创新影响下，许多创新消费新形态也正进入日常生活，形成新的增长动能。
Wang expects that during the 15th Five-Year Plan period, China's final consumption expenditure may exceed 90 trillion yuan ($12.99 trillion), accounting for around 60 percent of the country's GDP.
王微预计，"十五五"期间我国最终消费支出有望突破90万亿元，占GDP比重将提升至60%左右。
"The contribution of final consumption to economic growth will remain above 60 percent, and the share of household services consumption in total consumer spending will rise to 50 percent," she said.
最终消费对经济增长的贡献率将保持在60%以上，居民服务性消费占消费总支出比重将升至50%。
According to the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development, over the next five years, China should achieve a notable increase in household consumption as a share of GDP.
根据《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》，未来五年我国要实现居民消费占GDP比重显著提升。
It also emphasized that special initiatives should be advanced to boost consumption, and the supply of high-quality consumer goods and services should be expanded. China should focus on easing market access and integrating various forms of business to boost consumption of services and strive to build market-leading brands, raise standards, and apply new technologies to expand and upgrade goods consumption.
规划同时强调，应实施促进消费专项行动，扩大优质消费品和服务供给。要聚焦放宽准入与业态融合促进服务消费，着力打造领军品牌、提升标准规范、运用新技术拓展升级商品消费。
"To that end, in 2026, consumption should remain the priority of economic development. Special initiatives to boost consumption should be further implemented, with strengthened inclusive policies directly benefiting consumers. Supply-side structural reform and policy innovations should be continuously advanced to steadily enhance consumers' spending power and willingness, promoting a stable increase and shifting the incremental economic growth to innovation-driven forms," Wang added.
"为此，2026年应继续将消费摆在优先位置，深入推进促消费专项行动，强化普惠性政策直达消费者，持续推进供给侧结构性改革和政策创新，稳步提升居民消费能力与意愿，推动消费稳定增长并向创新驱动型增量转变。"王微补充道。
Wang said policymakers should continue to strengthen countercyclical macroeconomic policies in 2026, provide more support for services consumption, and accelerate the establishment of an institutionalized empowerment mechanism that integrates policy support, digital empowerment and industrial funds to better support the development of micro and small enterprises.
她建议决策层在2026年继续加强逆周期宏观政策调控，加大对服务消费支持力度，加快建立政策支持、数字赋能与产业基金相结合的常态化赋能机制，更好支持小微企业发展。
More efforts should also be made to maintain subsidies for the goods trade-in policy, support housing rentals such as providing rental subsidies for university graduates, new urban residents and migrant workers, and capitalize on the debut economy to strengthen backing for consumption innovation.
同时应延续消费品以旧换新补贴政策，支持大学毕业生、新市民、农民工等群体住房租赁补贴，借力首发经济强化对消费创新的支持。
final consumption /ˈfaɪnəl kənˈsʌmpʃən/最终消费
domestic demand /dəˈmestɪk dɪˈmɑːnd/国内需求
exclusive interview /ɪkˈskluːsɪv ˈɪntəvjuː/独家专访
eldercare /ˈeldəkeə/养老服务
market-leading brand /ˈmɑːkɪt ˈliːdɪŋ brænd/领军品牌
supply-side structural reform /ˈsʌplaɪ saɪd ˈstrʌktʃərəl rɪˈfɔːm/供给侧结构性改革
incremental /ˌɪŋkrəˈmentl/增量的
countercyclical /ˌkaʊntəˈsɪklɪkəl/逆周期的
debut economy /ˈdeɪbjuː ɪˈkɒnəmi/首发经济
Hosts & Guests
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