China's 15th Five-Year Plan (2026–2030) outlines the goal of significantly increasing the share of household consumption, noting that the country's vast domestic market potential has yet to be fully realized, Wang Changlin, vice chairman of the National Development and Reform Commission (NDRC), said at a press conference on Friday.

The briefing focused on major economic and social development strategies under the 15th Five-Year Plan.

China will formulate and implement a dedicated consumption expansion plan for the 2026–2030 period, aiming to ensure that residents have stable incomes to spend, feel secure enough to spend without concerns, and enjoy a better consumption environment that encourages spending, Wang added. This is intended to better leverage consumption as a fundamental driver of economic growth.

This comes alongside fixed-asset investment rebounding in the first quarter of 2026, turning from decline to growth, with a 1.7% increase. Infrastructure investment, in particular, saw relatively fast growth.

Going forward, China will further leverage government investment to stimulate private investment, Wang said. He added that authorities will work to ensure that 755 billion yuan ($110.7 billion) in central budget investment and 1 trillion yuan in ultra-long-term special treasury bonds are largely allocated by the end of June. Efforts will also be made to improve long-term mechanisms for private sector participation in major projects, with a focus on high-growth sectors such as the digital economy, artificial intelligence, and commercial aerospace, he said.

In the energy sector, the 15th Five-Year Plan outlines a "10-year doubling action" for non-fossil energy.

During the plan period, the supply of non-fossil energy is expected to increase significantly by 2030 compared with 2025, and double by 2035, the NDRC vice chairman said. China will coordinate economic and social development with its carbon peaking goals and accelerate the development of a new energy system, he added.

(Cover via VCG)