The Chinese mainland is set to implement a series of measures aimed at boosting domestic consumption and stabilizing foreign investment in 2025. In a State Council executive meeting on Monday, Premier Li Qiang outlined strategies to increase household incomes, promote reasonable wage growth, and expand property-related income channels.
The meeting emphasized the importance of targeting consumption sectors with strong spillover effects and significant growth potential. Key areas of focus include culture, sports, tourism, and the snow-and-ice industry, with efforts to develop inbound tourism consumption and support for China's consumer goods trade-in program.
Recognizing the vital role of foreign enterprises in job creation, export stabilization, and industrial upgrading, the meeting called for more practical and effective measures to retain existing foreign investment and attract new investments. This includes optimizing comprehensive services sector opening-up pilot programs and expanding industries that encourage foreign participation.
Foreign capital is being encouraged to undertake equity investments in China, with initiatives to streamline rules and procedures for foreign mergers and acquisitions. Additionally, the meeting stressed the need for equal treatment of domestic and foreign enterprises in government procurement and the expansion of financing channels for foreign businesses.
Efforts to remove outdated or inefficient production capacities and increase high-end capacities were also discussed. The meeting approved a draft law on national development planning, which will be submitted to the Standing Committee of the National People's Congress for deliberation.
Reference(s):
China unveils measures to boost consumer spending, foreign investment
cgtn.com
