波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Boosting consumption will be key in 2026

By Ren Qi | China Daily | Updated: 2025-12-19 07:39
Share
Share - WeChat

The call by Chinese policymakers to further boost consumption and raise incomes of urban and rural residents signals a stronger demand-side push in 2026 to target consumers' ability and willingness to spend, economists said.

The annual Central Economic Work Conference, which concluded on Dec 11, urged deeper implementation of pro-consumption measures and the rollout of an income growth plan for households. It also called for expanding the supply of high-quality goods and services and removing unreasonable restrictions on the consumption sector to unlock services spending.

Shu Wenqi, deputy director of the China City Development Academy, said the conference signaled a sharper demand-side tilt in macro policy, shifting the focus of growth from traditional investment to a dual push for consumption and incomes. The aim is to systematically raise the ability and willingness of households to spend, thereby strengthening the economy's endogenous momentum over the long term.

He said the policy direction aligns with the recommendations for formulating the 15th Five-Year Plan (2026-30) to "promote common prosperity and increase the share of household income in national income".

The planned income-boosting program for urban and rural residents seeks to build a lasting virtuous cycle of "income growth-consumption upgrades-industrial transformation", rather than just facilitating near-term circulation.

Analysts said they expect that during the 15th Five-Year Plan period, income growth and consumption will sit within a broader structural reform agenda.

Shu said that policymakers are likely to improve primary and secondary income distribution systems and expand the middle-income group to underpin a large domestic market.

In November, the Ministry of Commerce launched the "Big Market for All: Export to China" initiative, aimed at boosting imports and providing a new channel for global products to enter the Chinese market.

According to ministry data, trade-in programs for consumer goods from January to November drove more than 2.5 trillion yuan ($355 billion) in sales, benefiting over 360 million customer visits. Purchases included more than 11.2 million cars, 128.44 million home appliances, 90.15 million subsidized smartphones and other digital devices, 12.91 million electric bicycles, and over 120 million home renovation and kitchen upgrades.

Robin Xing, chief China economist at Morgan Stanley, said that boosting consumption is a key task and aligns with the 15th Five-Year Plan goal of notably raising the household consumption share.

Xing said he expects the trade-in program to continue in 2026, with a similar size of around 300 billion yuan and some shifts in eligible product categories. As marginal effects diminish, he said the policymakers may extend support to services in the second half, though details need to be firmed up. Spending on preschool education and social security could also increase.

The economic conference also reaffirmed the property sector's shift toward higher-quality development. Analysts said they expect supportive measures to continue in 2026 to stabilize the market.

"Mortgage interest subsidies are likely to be expanded next year," Xing said. "But the effectiveness will depend on the scope, strength and duration. We may need to wait until after the two sessions in March for more clarity."

Shu, from the China City Development Academy, said that the potential supportive policies for the property sector in 2026 should not be seen as short-term stimulus. "Rather, they would facilitate a soft landing and model shift during a period of deep adjustment," he said, adding that future measures should build on ensuring housing delivery and safeguarding livelihoods, while advancing a "rent-and-buy" housing supply system and integrating real estate with national strategies such as new urbanization and urban renewal.

He said that local governments should take an integrated approach, linking everyday spending opportunities, better-quality jobs and stronger social safety nets. Key priorities include digital spending, green consumption and services for older adults. The aim, he said, is for cities to be engines of growth and places where people feel their lives are getting better.

Tao Qizhi, a professor at the Southwestern University of Finance and Economics' Institute of Chinese Financial Studies, said the policy tilt works from the demand side by raising incomes, which is aimed at improving the housing price-to-income ratio and adding solid, sustainable end-user demand to the property market.

"This is more than a market backstop. It is meant to push the sector away from its old model of high leverage and scale expansion. The goal is a new phase of high-quality growth centered on people's needs and product quality," Tao said.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
波多野结衣办公室双飞_制服 丝袜 综合 日韩 欧美_网站永久看片免费_欧美一级片在线免费观看_免费视频91蜜桃_精产国品一区二区三区_97超碰免费在线观看_欧美做受喷浆在线观看_国产熟妇搡bbbb搡bbbb_麻豆精品国产传媒
中文字幕第20页| 中文字幕av一区二区三区免费看 | 精品一区二区在线观看视频| 欧美mv日韩mv国产网站app| 偷拍日韩校园综合在线| 少妇激情一区二区三区视频| 欧美日韩国产综合久久| 亚洲一区二区三区小说| 好吊操视频这里只有精品| 欧美午夜片在线观看| 亚洲精品高清在线观看| 91在线码无精品| 欧美中文字幕一区二区三区亚洲| 亚洲天堂av一区| 91丨九色丨黑人外教| 在线视频欧美精品| 亚洲三级免费电影| 91在线视频播放| 欧美日韩精品三区| 日韩精品亚洲一区二区三区免费| 中文字幕精品久久久| 日韩一级在线观看| 美女爽到高潮91| 国产精品美女高潮无套| 久久久www成人免费毛片麻豆 | 56国语精品自产拍在线观看| 香蕉久久一区二区不卡无毒影院| 亚洲欧美日韩偷拍| 欧美xxxxx裸体时装秀| 精品一区二区日韩| www.97视频| 亚洲免费观看视频| 亚洲无人区码一码二码三码| 精品久久久久久久久久久院品网 | 97se亚洲国产综合自在线不卡| 在线观看一区二区精品视频| 亚洲国产另类av| 97超碰在线资源| 国产欧美精品一区aⅴ影院| av在线不卡电影| 欧美精品视频www在线观看| 蜜臀久久久久久久| 黑人狂躁日本娇小| 亚洲自拍欧美精品| av黄色在线免费观看| 中文字幕一区三区| 老熟女高潮一区二区三区| 欧美成人aa大片| 波多野结衣在线一区| 在线成人小视频| 国产在线精品一区二区夜色| 国产精品白嫩白嫩大学美女| 天堂蜜桃一区二区三区| 亚洲黄色网址大全| 一区二区三区四区激情 | 555夜色666亚洲国产免| 国产永久精品大片wwwapp | 国产999精品久久| 欧美日韩精品一区二区天天拍小说| 日本三级亚洲精品| 四虎884aa成人精品| 亚洲成人动漫精品| 国产中文av在线| 水蜜桃久久夜色精品一区的特点| 特级西西人体高清大胆| 亚洲一二三区视频在线观看| 国产三级在线观看完整版| 亚洲精品第一国产综合野| 一级黄色片网址| 亚洲国产视频a| 小泽玛利亚一区| 日欧美一区二区| 国产波霸爆乳一区二区| 麻豆精品在线观看| 欧美视频一区二| 国产精品自在欧美一区| 欧美一区二区视频在线观看2020| 成人黄色小视频| 久久综合色婷婷| 中文字幕视频观看| 国产精品丝袜一区| 中文字幕高清视频| 亚洲国产精品麻豆| 成年人av电影| 国产乱子伦一区二区三区国色天香| 欧美男人的天堂一二区| 成人黄色在线视频| 久久久99精品免费观看不卡| 精品一区二区三区四区五区六区| 亚洲色图欧洲色图| 亚洲人与黑人屁股眼交| 久久福利视频一区二区| 在线成人高清不卡| www.99精品| 久久久高清一区二区三区| 在线视频 日韩| 一区二区高清免费观看影视大全 | 日韩制服丝袜av| 欧美一a一片一级一片| 成人综合婷婷国产精品久久免费| 久久综合久久综合亚洲| 漂亮人妻被黑人久久精品| 一区二区三区在线视频免费观看| 九九热视频在线免费观看| 久久国产精品区| 91麻豆精品国产自产在线观看一区| av亚洲精华国产精华| 国产精品午夜在线观看| 日本精品久久久久中文| 精品制服美女丁香| 精品毛片乱码1区2区3区| 亚洲精品乱码久久| 偷拍亚洲欧洲综合| 欧美区在线观看| www日本在线观看| 亚洲精品国产高清久久伦理二区| 校园春色 亚洲| 国产不卡在线一区| 国产女人aaa级久久久级| 亚洲一级片在线播放| 久久9热精品视频| 精品乱码亚洲一区二区不卡| 色欲av无码一区二区三区| 日本v片在线高清不卡在线观看| 欧美日韩视频在线观看一区二区三区 | 日韩免费看网站| 最新在线黄色网址| 免费日本视频一区| 精品日产卡一卡二卡麻豆| mm131美女视频| 九九视频精品免费| 久久亚洲欧美国产精品乐播| 一级黄色片网址| 国产高清一区日本| 国产精品国模大尺度视频| 色综合天天综合给合国产| 99久久精品国产毛片| 亚洲综合色成人| 欧美丰满高潮xxxx喷水动漫| 国产精品300页| 久久99精品久久久久久国产越南 | xfplay精品久久| 一本在线免费视频| 高清不卡一二三区| 亚洲女人的天堂| 欧美欧美午夜aⅴ在线观看| 欧美肉大捧一进一出免费视频| 麻豆成人av在线| 中文字幕免费观看一区| 在线观看视频一区二区欧美日韩| 成人在线观看一区二区| 热久久免费视频| 久久久国际精品| 日本二三区不卡| 尤物网站在线观看| 麻豆国产精品一区二区三区| 国产视频一区在线播放| 色综合久久综合网97色综合| 香蕉视频在线观看黄| 日韩国产欧美三级| 欧美激情综合在线| 欧美性大战久久| 人妻精品久久久久中文字幕| 国产精品一区二区x88av| 亚洲激情成人在线| 日韩一区二区三区四区五区六区| 日日碰狠狠添天天爽| 93久久精品日日躁夜夜躁欧美| 天堂影院一区二区| 中文字幕av一区 二区| 欧美日韩国产精选| 摸摸摸bbb毛毛毛片| 成人av电影在线| 秋霞电影网一区二区| 欧美激情一区二区三区蜜桃视频| 欧美三级在线视频| 超碰97av在线| 亚洲国产精品狼友在线观看| 国产一区视频在线看| 一区二区三区加勒比av| 337p粉嫩大胆色噜噜噜噜亚洲 | 一区二区三区美女| 亚洲精品在线电影| 在线观看成人小视频| 人与嘼交av免费| 美女流白浆视频| 国产经典欧美精品| 日韩激情视频在线观看| 综合激情成人伊人| 精品国产一区a| 欧美日韩中文精品| 殴美一级黄色片| 熟妇高潮精品一区二区三区| 成人免费毛片aaaaa**| 青草av.久久免费一区| 亚洲天堂网中文字| 国产亚洲综合在线| 制服丝袜亚洲精品中文字幕| 国产波霸爆乳一区二区| 国产精品国产三级国产专业不|