Select Language:
As the primary driver of economic growth, consumer spending plays a crucial role in fueling China’s pursuit of high-quality development as it moves into the 15th Five-Year Plan period, spanning from next year through 2030.
The session titled “Revitalizing Consumption: Global Sharing of Opportunities in China’s Market” will take place in Hall 4.2 of the National Exhibition and Convention Center (Shanghai) on the afternoon of November 6, 2025. This gathering will convene international leaders from government, business, and academia to explore how policy innovation and open sharing can unlock new consumption potentials and transform China’s extensive market into a more dynamic engine for global economic growth.
During the previous five-year period, China’s domestic market demonstrated increasing strength, solidifying consumer spending as the main engine and stabilizer of the economy. Consumer contributions accounted for approximately 60% of the country’s economic growth. Amidst global economic restructuring, China’s sizable market and its strategy of institutional openness have offered vital stability worldwide. The nation’s contribution to global growth has consistently hovered around 30% annually, establishing it as a dependable and stable source of global economic momentum.
Various policies—such as issuing long-term special treasury bonds and launching consumer goods trade-in programs—are actively supporting the expansion of consumption. Innovative consumption formats, business models, and scenarios continue to emerge, bolstering market vitality and solidifying China’s position as the world’s second-largest consumer market. Last year, total retail sales of consumer goods climbed to 48.3 trillion yuan from 39.1 trillion yuan in 2020, marking an average growth rate of 5.5% annually, with projections suggested that this figure will surpass 50 trillion yuan this year.
Looking forward to the 15th Five-Year Plan, China aims to persist in its focus on consumption-driven growth despite global uncertainties. The country plans to refine its consumption-led growth model by implementing timely, targeted policies that stimulate goods and services spending, unlock new potential in service consumption, and catalyze emerging consumption trends. These initiatives are designed to expand domestic demand, reinforce the internal economic cycle, and continue contributing significantly to global development.
The session will feature in-depth discussions with global thought leaders on key issues such as removing policy barriers to unleashing consumption potential during the new five-year period, how technological innovation will influence economic policies and sustainability, strategies for accelerating service consumption growth, and ways to foster mutually beneficial global consumption cycles.
The event is organized by China’s Ministry of Commerce in collaboration with a leading media group.
ChatGPT
Perplexity
Gemini AI
Grok AI
