China aims for 60 trillion yuan in retail sales by 2030 under new spending blueprint

(ECNS) — China has approved a new five-year plan to boost household spending, targeting retail sales of about 60 trillion yuan ($8.3 trillion) by 2030 and underscoring Beijing's push to make domestic demand a stronger driver of economic growth.

The State Council said the plan centers on expanding the services sector, particularly elder care, childcare, tourism, and healthcare, while encouraging new ways of spending enabled by technologies such as artificial intelligence.

China's retail sales reached 50.1 trillion yuan in 2025, according to official data. The government said household spending contributed an average of 58.8% to economic growth over the previous five-year period.

Officials from the National Development and Reform Commission and the Ministry of Commerce said the country was entering a critical phase in which growth in spending would depend not only on a larger market but also on higher-quality goods and services.

The plan sets out 28 measures to improve supply, lift consumer confidence, and support new spending habits.

(By Zhang Jiahao)