The State Council has approved a plan to expand consumption during the 15th Five-Year Plan period (2026-30), in a reply released on July 13.
According to the plan, by 2030, the total retail sales of consumer goods will reach approximately 60 trillion yuan, and consumption will play an even stronger role in driving economic growth.
In terms of consumption in services, efforts will be made to improve consumption in life services, expand and support consumption in elderly care and childcare services, develop cultural and tourism consumption, and promote that in health, sports, education and training.
For goods consumption, the nation will support large durable goods consumption, ensure stable and better supply of daily necessities, promote application of technologies and product innovation, and enhance the development of independent brands.
In addition, new consumption forms, models and scenarios will be fostered, as in digital, green, and experience consumption. Meanwhile, more work will be done to expand inbound consumption.
To that end, the nation will continue to expand the list of visa-exempt countries, refine the transit visa exemption policies, and launch more international air routes with priority given to direct flights to Europe, the United States and Belt and Road Initiative partner countries.
The plan also pledged work to improve the payment environment for inbound consumption, and streamline procedures for inbound tourists regarding customs clearance, accommodation registration, transportation, telecom services and scenic spot reservations.
In addition to optimized facilitation measures for departure tax refunds, the number of tax refund stores will be increased with more access to refund-upon-purchase services, and more domestic consumer goods will be encouraged for sale at port duty-free shops and downtown duty-free stores.
To raise the consumption capacity, more efforts will be made to promote high-quality and full employment, increase people’s incomes through multiple ways, improve social security, and reasonably increase public consumption, the plan said.
