Foreign media: China has pledged to significantly increase the share of consumption in its economy over the next five years, while continuing to prioritize technology and manufacturing as key development areas to reduce reliance on trade.
This goal was proposed in the communique of the Fourth Plenary Session of the 20th Central Committee held last week in China.
The communique stated that China will form an economic development model more driven by domestic demand and consumption. This means future economic growth will be more reliant on domestic demand rather than exports. This move shows that China is adjusting its growth structure, promoting consumption as an important engine of the economy, while maintaining a leading position in technological innovation and manufacturing.
Fourth Plenary Session of the 20th Central Committee
Original: www.toutiao.com/article/1847220059380803/
Statement: The article represents the views of the author.