According to a report by state media outlet Xinhua on Thursday, July 31, the Central Committee Political Bureau—China’s top decision-making body—will begin evaluating proposals for the 15th Five-Year Plan (2026–2030) during the fourth plenary session of the 20th Communist Party of China (CPC).
Boosting consumption, which has been a policy priority in recent months, is expected to remain a central focus of the upcoming plan.”We will roll out targeted measures as the situation evolves, to further spur the momentum of goods consumption and release the potential of services consumption,” Commerce Minister Wang Wentao said at a press conference, outlining the government’s economic goals for the next five years.
In a meeting chaired by President Xi Jinping on Wednesday (July 30), he emphasized the need to stabilize employment, businesses, and markets while bolstering domestic consumption.”Work should be done to strengthen domestic economic circulation and promote the positive interplay between domestic and international economic flows,” Xi was quoted as saying by state media, setting the policy tone for the second half of the year.
China reported a stronger-than-expected 5.3% year-on-year GDP growth in the first half of 2025. The International Monetary Fund (IMF), in its latest World Economic Outlook released earlier this week, projected the country’s economy to expand by 4.8% for the full year.
However, analysts caution that it may be difficult to sustain the current pace of growth through the second half.
To support spending, the government is also implementing new social and childcare policies. A recently announced initiative offers an annual childcare subsidy of 3,600 yuan (approximately $500) per child until the age of three.
“By connecting consumer spending to broader social goals like elderly care improvement, childcare support and work-life balance, the plan embeds consumption growth within China’s wider development objectives, signalling that consumption is being positioned not just as an economic target but as a means to enhance quality of life,” Xinhua reported in March.
China is also encouraging domestic consumption through the expansion of recreation and entertainment. Shanghai, the country’s financial capital, recently opened its first Legoland theme park, with two more parks based on Harry Potter and Peppa Pig franchises expected to follow.
