{"id":86984,"date":"2025-09-26T15:30:17","date_gmt":"2025-09-26T15:30:17","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/86984\/"},"modified":"2025-09-26T15:30:17","modified_gmt":"2025-09-26T15:30:17","slug":"boost-household-income-to-drive-chinas-economy-in-next-5-years-ex-official-urges","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/86984\/","title":{"rendered":"Boost household income to drive China\u2019s economy in next 5 years, ex-official urges"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">China should make greater efforts to boost household income over the next five years as the world\u2019s second-largest economy looks to consumption to power future growth, a former senior official said.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Yang Weimin, a former deputy head of the Office of the Central Leading Group on Financial and Economic Affairs, made the comments ahead of next month\u2019s fourth plenum of the Communist Party\u2019s Central Committee.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Committee members will discuss the country\u2019s next five-year plan, with the economic blueprint likely to emphasise income and gross domestic product growth, the upgrading of industry and technological innovation.<\/p>\n<p>\u201cWhere will the growth momentum come from over the next five years? It lies in shared development, the pursuit of <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/economy\/policy\/article\/3293748\/chinas-powerhouse-province-renews-common-prosperity-pledge-2035?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">common prosperity<\/a>, and gradually narrowing the [income] gap,\u201d Yang said at Tsinghua University in Beijing on Wednesday.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">\u201cThe main reason for weak consumer demand in China is fundamentally a matter of income.\u201d<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Yang, who helped draft multiple five-year plans while working as head of the National Development and Reform Commission\u2019s planning department before joining the leading group in 2011, specifically mentioned the need to raise the share of household disposable income in national income and boost consumer spending\u2019s share of total demand.<\/p>\n","protected":false},"excerpt":{"rendered":"China should make greater efforts to boost household income over the next five years as the world\u2019s second-largest&hellip;\n","protected":false},"author":2,"featured_media":86985,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,381,57287,8886,179,18,57283,30055,19,57284,17,9408,2090,57286,57285,8949,57282],"class_list":{"0":"post-86984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-communist-party-central-committee","11":"tag-consumption","12":"tag-economy","13":"tag-eire","14":"tag-five-year-plan","15":"tag-gross-domestic-product","16":"tag-ie","17":"tag-incomes","18":"tag-ireland","19":"tag-national-bureau-of-statistics","20":"tag-pensions","21":"tag-property-slump","22":"tag-rebalancing","23":"tag-us-china-trade-war","24":"tag-yang-weimin"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/86984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=86984"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/86984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/86985"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=86984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=86984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=86984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}