China aims to achieve total retail sales of consumer goods of around 60 trillion yuan (~$8.8 trillion) by 2030 under the State Council’s recently approved consumption expansion plan for the 15th Five-Year Plan period (2026-2030).
China aims to lift total retail sales of consumer goods to about 60 trillion yuan (~$8.8 trillion) by 2030 under its 2026-2030 consumption plan.
The target signals a larger domestic market for textile, apparel and retail supply-chain firms tracking consumer demand.
Local governments have been urged to align consumption-expansion policies with regional conditions.
The plan also aims to raise the ratio of household consumption to gross domestic product significantly and achieve relatively fast growth in total goods and services consumption, the Chinese media reported.
It sets priorities including improving the consumption structure, strengthening consumption capacity, enhancing the supply of goods and services, and improving the consumption environment.
In its approval, the State Council called for efforts to increase domestic demand, adopt specific actions to boost consumption, expand services consumption, upgrade goods consumption and enrich business formats.
During the 14th Five-Year Plan period (2021-2025), total retail sales of consumer goods reached 50.1 trillion yuan in 2025, surpassing the 50-trillion-yuan level for the first time.
The average contribution rate of final consumption expenditure to economic growth during 2021-2025 stood at 58.8 per cent, up 10 percentage points from the previous five-year period.
The 2026-2030 period is expected to be a critical stage for both expansion in scale and improvement in quality in China’s consumer market.
The State Council also urged local governments to make consumption expansion a key task in economic and social development while implementing the plan in line with local conditions.
Fibre2Fashion News Desk
