"The suggestion explicitly pledged to raise the consumption share in GDP. The philosophy of consumption policy also seems to have shifted from almost supply-centric to supply-and-demand balanced," Citi analysts said in a note. Currently, household consumption accounts for about 40% of GDP, far below nearly 70% in the United States. Some government advisers suggest China should aim for a consumption rate of 50% within the next decade. China unveiled its outline for policy goals for 2026-2030 last week, prioritising manufacturing and technology reliance while also pledging to boost consumption.
