China Targets USD 9 Trillion in Annual Retail Sales by 2030 Under First Five-Year Consumption Plan
- brg_news_room
- Jul 14
- 1 min read
China: China has unveiled its first five-year plan dedicated to boosting consumption, targeting annual retail sales of around USD 9 trillion by 2030, implying annual growth of about 3.7%, down from roughly 5% recorded during 2021–2025. The plan aims to raise household incomes, significantly increase household consumption's share of the economy from around 40%, and expand spending on services such as elderly care, childcare, healthcare, culture, tourism, sports and education, with services accounting for 46.1% of per capita consumption in 2025 compared with around 70% in the U.S. It also promotes digital, AI-powered, green, experiential and inbound consumption, alongside measures to strengthen tourism, expand visa-free entry, increase direct international flights, improve social security, raise wages and property income, and remove restrictions on car purchases, housing and entertainment event approvals.
Source: Reuters
