The National Development and Reform Commission and the Ministry of Commerce Interpret the "15th Five-Year Plan for Expanding Consumption"

Relevant officials from the National Development and Reform Commission and the Ministry of Commerce recently answered questions from reporters about the "Plan for Expanding Consumption during the 15th FiveYear Plan Period," introducing the background of the plan, its main features, target setting, and key tasks. The officials said that during the 14th FiveYear Plan period, China's consumer market continued to expand in scale, the consumption structure kept improving, new forms of consumption developed rapidly, and consumption's role in driving economic growth grew stronger. Looking ahead to the 15th FiveYear Plan period, China's consumer market will enter a critical stage of expanding scale and improving quality, but there are still some issues that constrain the release of consumption potential, so it is necessary to systematically plan the ideas and measures for expanding consumption. The Plan emphasizes benefiting people's livelihoods, strengthening overall coordination, and fostering innovation. It deploys 28 key tasks around improving the quality of service consumption, upgrading goods consumption, cultivating new consumption business models and scenarios, enhancing consumption capacity, optimizing the consumption environment, and improving institutional mechanisms. It also sets up nine special sections on the silver economy, childcare products and services, cultural and tourism consumption, health consumption, and automobile consumption. The plan proposes that by the end of the 15th FiveYear Plan period, total retail sales of consumer goods are expected to reach around 60 trillion yuan, and the consumption structure, consumption capacity, consumer supply, and consumption environment will all be further improved.