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China to expand domestic demand

Xinhua | Updated: 2024-03-05 10:15
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The 14th National People's Congress, China's national legislature, opens its second session at the Great Hall of the People in Beijing, March 5, 2024. [Photo/Xinhua]

BEIJING -- China will expand domestic demand and integrate the strategy of expanding domestic demand with efforts to deepen supply-side structural reform, according to a government work report submitted Tuesday to the national legislature for deliberation.

China will promote steady growth in consumption spending, and launch policies to promote digital, environmentally-friendly, and health-related consumption. The country will also boost spending on intelligent connected new-energy vehicles, electronic products, and other big-ticket items, it said.

To improve the consumption environment, China will launch a year-long program to stimulate consumption, it said.

It also said that China will increase effective investment. This year, 700 billion yuan will be earmarked in the central government budget for investment.

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