Consumption to lead growth

Urbanization and restructuring will boost residents' spending and promote more sustainable development

It is China's short-term policy goal as well as its medium and long-term strategic aim to reverse the imbalance between investment and consumption as soon as possible and establish a consumption-dominated development pattern.

China's economic prospects will to a large extent be decided by how successful it is in achieving the transformation to a consumption-dominated development pattern. If the process is smoothly pushed forward in the coming five to 10 years, it will have historical consequences for the country's successful medium and long-term development and will play a big role in promoting global economic rebalancing, recovery and growth.