Insights丨UN Economist: Consumption potential and green transition to power China’s next growth phase

Benjamin Rae, senior economist at the UN Resident Coordinator’s Office in China, noted during an exclusive interview with China News Network that China's household consumption has grown at a pace which is one of the fastest globally, yet still accounts for only about 40% of GDP, leaving significant room for expansion. He said the 15th Five-Year Plan’s renewed focus on social protection and human capital investment is expected to further stimulate consumption.

Meanwhile, China’s continued efforts in renewable energy and climate action is driving high-quality domestic growth and accelerating the green transition across the Global South. (Chen Tianhao)