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China set to expand opening-up while boosting consumption: commerce minister
China Daily | English | News | Dec. 8, 2025 | UndeterminedEconomic Growth
China plans to deepen its high-standard opening-up and enhance domestic consumption to drive high-quality development during the 15th Five-Year Plan period (2026-30), according to Commerce Minister Wang Wentao. The strategy aims to balance and strengthen the interaction between domestic and international markets amid strategic opportunities and increasing uncertainties.
The government will focus on creating a more transparent and stable environment to attract foreign investment, upgrade pilot free trade zones, expand high-standard free trade agreements, and develop the Hainan Free Trade Port. China will also broaden market access, especially in service sectors, aligning with international economic and trade rules to expand its opening-up efforts.
With a population exceeding 1.4 billion, China recognizes its significant consumption potential. The government intends to internationalize the consumption environment, increase the availability of high-quality goods and services, and support the domestic market as a strategic pillar for modernization. Efforts include easing market access, integrating diverse business formats, and steering consumption toward new sectors like cruise tourism and sports events.
To boost goods consumption, China will organize major promotional activities, stimulate demand for durable goods, expand automobile consumption across the industrial chain, and encourage upgrades of home appliances. These measures align with the Chinese Communist Party’s recommendations for sustaining a strong domestic market during the forthcoming Five-Year Plan.