China Prioritizes Domestic Consumption and Tech Self-Reliance Amid Global Trade Tensions
Chinese policymakers have unveiled plans to strengthen domestic consumption and technological development during the Fourth Plenum meeting. The announcement comes as Vice Premier He Lifeng prepares for trade talks in Malaysia amid ongoing U.S.-China tensions. Analysts suggest the policy shift indicates a deeper focus on economic supply-demand dynamics.
Economic Policy Shift Toward Domestic Consumption
China’s leadership has emphasized a renewed commitment to boosting domestic consumption as part of its five-year development strategy, according to state media reports from the Fourth Plenum meeting. The policy direction reportedly marks a significant shift in how Chinese policymakers are approaching economic growth, with multiple sources indicating a deeper examination of the relationship between supply and demand than in previous years.
