In a world grappling with geopolitical friction and economic turbulence, China's domestic demand is proving to be a vital anchor for stability, according to Li Zhi, assistant dean of the China Institute of Development Planning at Tsinghua University. Escalating trade disputes, such as the United States' widespread use of punitive tariffs, and fears of a global slowdown have underscored the urgency of fostering internal economic resilience.
China's consumer market has defied expectations, showcasing remarkable vitality. The May Day holiday saw a record-breaking surge in domestic travel, with numbers rivaling the entire population of the U.S. Cultural and tourism spending also soared, revealing the untapped potential of China's vast internal market. This performance aligns with policymakers' efforts to prioritize domestic demand as a buffer against external pressures.
Li argues that these trends validate China's strategic focus on stimulating homegrown consumption and investment. 'The scale and adaptability of our domestic market offer a unique advantage in navigating global uncertainties,' he notes, emphasizing the synergy between policy initiatives and consumer confidence.
