Han Wenxiu: Will develop and implement plans to increase income for urban and rural residents, and promote a significant rise in residents' consumption rate.

Reporter Zhou Xiaoxiao and Ran Lili from 21st Century Business Herald, Beijing report

On March 22, the China Development Forum 2026 Annual Meeting opened in Beijing. Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Affairs Commission and Director of the Office of the Central Rural Work Leading Group, stated at the annual meeting that in the coming period, a key focus for promoting coordinated and balanced economic development, which is also a significant challenge, is to steadily increase the contribution of consumption to economic growth, and to promote the formation of more economic development models led by domestic demand, driven by consumption, and characterized by endogenous growth. Currently, the advantages of China’s super-large-scale market have not been fully realized, and there is enormous potential for expanding consumption, particularly in service consumption; there are vast investment opportunities in urban renewal, traditional infrastructure renovation and upgrading, and new infrastructure construction.

Han Wenxiu indicated that a “Plan for Increasing Income of Urban and Rural Residents” will be formulated and implemented to significantly boost the residents’ consumption rate, insisting on closely integrating investment in goods and investment in people, strengthening human resource development and comprehensive investment in human development, so that the growth potential of the major economy can be fully unleashed.

(Author: Zhou Xiaoxiao, Ran Lili; Editor: Li Bo, Chen Jie; Video Editor: Chen Zekai)

(Editor: Wen Jing)

Keywords:

                                                            Consumption