Consumer spending seen as key to growth

Policymaker says next five years will be crucial economic transformation period

China's consumption will be a decisive factor in achieving the country's next five-year economic growth targets, as its contribution to GDP will continue to increase, a senior policymaker said on Monday.

The driving power of investment, which was a major factor in preventing an economic hard landing in the wake of the 2008 global financial tsunami, will be relatively weakened, said Yang Weimin, deputy director of the Office of the Central Leading Group on Financial and Economic Affairs.