(Feb 4): China will press ahead with building a unified market to unleash domestic consumption as countries around Asia face a “pivotal juncture” in the transformation of the global economy, a top economic official said. “China is shifting towards new growth drivers in order to pursue high-quality development,” Liao said. “We are pressing ahead with building a unified market to further unleash domestic demand and consumption potential. China’s economic growth matched the government’s goal of 5% last year, with exports contributing a third of the expansion while domestic demand stayed subdued. Over a dozen Chinese provinces have reduced their economic growth targets for 2026, after Chinese President Xi Jinping indicated greater tolerance for a slower expansion and warned against wasteful investment.

Source: The Edge Markets February 04, 2026 04:51 UTC