China to boost consumption, residents' income

China will actively boost consumption and implement an income growth plan for urban and rural residents, according to the Government Work Report submitted Thursday to the country's top legislature for deliberation.

The Report outlines the government's major tasks for 2026, including building a robust domestic market.

"We will work to build a robust domestic market. China will advance special initiatives to bolster consumption, formulate and implement an income growth plan for urban and rural residents, and roll out a range of practical measures to boost the earnings of low-income groups, increase property income, and refine the remuneration and social security systems. To promote the expansion and upgrading of goods consumption, a total of 250 billion yuan (36.17 billion U.S. dollars) in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs, and refinements will be made to the implementation mechanisms for relevant policies," said Chinese Premier Li Qiang when delivering the Government Work Report at the opening meeting of the fourth session of the 14th National People's Congress (NPC).

"China will fully tap and unleash the potential of effective investment. A total of 755 billion yuan (109 billion U.S. dollars) will be earmarked in this year's central government budget for investment, and 800 billion (116 billion U.S. dollars) yuan raised from ultra-long special treasury bonds will be allocated to implement major national strategies and enhance security capacity in key areas. Central government subsidies for investment will be raised on a per-category basis. Quotas for local government special-purpose bonds earmarked for projects will be raised and placed under separate management. We will issue new types of policy-backed financial instruments with a total value of 800 billion yuan, see that all types of government investment funds are used in a well-coordinated way, and implement relevant promotion policies and measures to effectively invigorate private investment," said Li.

China to boost consumption, residents' income

Thousands of people took to the streets of the Venezuelan capital Caracas on Tuesday to condemn U.S. and Israeli military strikes on Iran, and to demand the release of President Nicolás Maduro and his wife.

The demonstrators gathered in a park in western Caracas, holding banners and waving Venezuelan national flags as they marched along main thoroughfares toward Bolivar Square.

Participants chanted slogans condemning the U.S. hegemonic actions and voiced support for the Iranian people. Many also reiterated their demand that the United States release Venezuelan President Nicolás Maduro and his wife.

"This is a protest against the ongoing and increasingly violent imperialist intervention. I am here to question why they are bombing Iran, just as they have bombed Venezuela and Gaza. I strongly oppose what is happening now. We believe that the internal affairs of a sovereign nation should be decided by its own people, and no other country has the right to interfere," said Sonia, a protester.

Protesters rally in Venezuela to condemn US-Israeli attacks on Iran