China has unveiled a strategic shift toward strengthening its domestic market as the primary driver of economic growth over the next five years, signaling a renewed focus on self-sustaining development. The announcement came during a high-level policy meeting addressing the country's 15th Five-Year Plan for Economic and Social Development.
Zheng Shanjie, head of the National Development and Reform Commission (NDRC), emphasized the need to 'build a unified national market and expand domestic demand' during his analysis of the Communist Party of China Central Committee's recommendations. The policy framework aims to optimize China's economic structure while maintaining stability amid global uncertainties.
The proposed measures include streamlining regulations to enhance market efficiency, improving supply chain resilience, and fostering innovation-driven industries. Analysts suggest this approach could create new opportunities for businesses adapting to China's consumption upgrade trends while maintaining the country's role as a global manufacturing hub.
This strategic pivot comes as China seeks to balance its export-oriented growth model with sustainable domestic development. The NDRC's plan highlights infrastructure modernization and regional economic integration as key components in achieving market unification across the Chinese mainland.
