China sets out plans to boost consumption, expand domestic demand

China will vigorously stimulate consumption and expand domestic demand this year, positioning it as a key driver and stabilizing force for its economic growth, according to a government work report submitted on Wednesday to the national legislature for deliberation.

Chinese Premier Li Qiang delivered the work report on behalf of the State Council at the opening meeting of the third session of the 14th National People's Congress in Beijing.

The government plans to roll out a series of targeted measures, including launching special initiatives to boost consumption, unlocking diverse and differentiated consumption potential, and driving the upgrade and quality improvement of consumer markets. Efforts will also focus on increasing household income through multiple channels, particularly for middle- and low-income groups, while improving the wage growth mechanism for workers.