The State Council Information Office (SCIO) holds a press briefing on promoting high-quality development during the 15th Five-Year Plan period in Beijing, capital of China, April 17, 2026. (Xinhua/Li Xulun)
BEIJING, April 17 (Xinhua) -- Chinese authorities on Friday outlined a set of policy priorities aimed at strengthening economic momentum, expanding domestic demand and ensuring stable development.
A coordinated mix of macro policies will be rolled out, with a reserve of measures to be introduced in a timely manner as conditions require, Wang Changlin, deputy head of the National Development and Reform Commission, told a press conference.
The government will move to expand effective domestic demand, draft an action plan for 2026-2030 to expand domestic demand and expedite the construction of qualified major projects, according to Wang.
Despite its massive market size, the country's consumption potential has yet to be fully realized, with significant room for expansion, especially in services, Wang said, pledging to roll out a comprehensive consumption boost campaign to create conditions "where consumers have stable incomes to spend, feel secure enough to spend, and are willing to spend in an improved environment."
Enhancing household purchasing power will be a top priority. Measures include improving employment promotion mechanisms, supporting companies in stabilizing and expanding hiring, encouraging entrepreneurship, and fostering new occupations.
Authorities will also strengthen skills training to boost incomes through employment, gradually raise the minimum wage, refine income distribution mechanisms, and expand channels for property income, with the aim of steadily increasing residents' consumption capacity.
China will continue to implement consumer goods trade-in program, while aligning consumption promotion with improvements in people's livelihoods. Efforts will target the expansion and upgrading of the services sector, particularly in areas such as healthcare, elderly care, and cultural tourism, to provide more diverse, high-quality and convenient services, according to Wang.
China will also foster new consumption scenarios by leveraging its large market and diverse application environments.
Official data showed China's economy grew 5 percent in the first quarter of 2026, outpacing expectations of some foreign institutions and reinforcing the country's role as a stabilizing force in an increasingly volatile global economy.
The country will step up efforts to boost technological innovation, accelerate the development of emerging industries, advance the "AI plus" initiative, and foster new forms of smart economy. Measures will also be taken to enhance the capacity of the service sector.
Authorities pledged stronger support to stabilize employment and raise incomes, including policies to secure jobs, improve job quality and implement income growth plans for urban and rural residents. Social safety nets for vulnerable groups will also be reinforced.
In addition, China will work to ensure stable supply and prices of key goods such as energy, resources and food, accelerate the building of a new type of energy system, and promote the stable development of the property market, Wang noted. ■
