China will formulate and release an implementation plan this year for its strategy to expand domestic demand for the 2026-2030 period, Wang Changlin, deputy head of the National Development and Reform Commission (NDRC), told a press conference on Tuesday.
The move is in response to the conclusion last December by the Central Economic Work Conference that there is a contradiction of strong supply and weak demand within the country’s economy.
"We will continue to focus our macroeconomic policies on strengthening the domestic economy and expanding domestic demand in all aspects. The key is to adapt to the trend of demand structure upgrading and, in conjunction with the needs of the new round of sci-tech revolution and industrial transformation, this year we will formulate an implementation plan for the strategy of expanding domestic demand for the 2026-2030 period. This is expected to provide innovative measures and guarantees for new supply driven by new demand and new demand created by new supply, striving to achieve mutual promotion of supply and demand and a cyclical upgrade," said Wang.
Wang noted that China will stick to intelligent, green and integrated development, promote the upgrading of key industries, vigorously cultivate and expand emerging and future industries, and support the integration of artificial intelligence (AI) and other industries.
China will also focus on the in-depth construction of a unified national market, Wang added.
"We'll refine mechanisms of market access system, fair competition, and [outdated] production facilities elimination, strengthen production regulation, and actively resolve the temporary contradiction of oversupply," Wang said.
China to formulate plan on expanding domestic demand for 2026-2030
China will enhance its equipment upgrading and trade-in programs in 2026 to boost domestic demand, the National Development and Reform Commission (NDRC) announced on Tuesday.
Regarding promoting large-scale equipment upgrades and replacing old consumer goods with new ones, significant progress was reported in 2025. In the past year, ultra-long-term special government bond funds were arranged to support approximately 8,400 equipment-upgrading projects, stimulating total investments exceeding 1 trillion yuan (about 143.5 billion U.S. dollars). Over 360 million people applied for subsidies under the consumer goods trade-in scheme, leading to sales of related goods surpassing 2.6 trillion yuan.
Wang Shancheng, director of the Department of Resource Conservation and Environmental Protection at the NDRC, said at a press conference that the Implementation of these measures will continue to be optimized in 2026.
"We will further lower the investment threshold for application projects, increase support for small and medium-sized enterprises, expand policy coverage, implement the requirements for building a unified national market, and implement unified subsidy standards nationwide for the scrapping and replacement of vehicles, trade-in of six categories of home appliances, and four categories of digital and smart product purchases," said Wang.
The NDRC representative also highlighted that in 2026, efforts will focus on comprehensively expanding domestic demand. An implementation plan to expand domestic demand for the 2026-2030 period will be formulated. Furthermore, the NDRC will promote upgrades in key industries, explore establishing a national-level mergers and acquisitions fund, and cultivate and bolster emerging and future industries.
China to enhance equipment upgrades and trade-in programs in 2026
