Han Wenxiu: Steadily Enhance Consumption's Contribution to Economic Growth

On March 22, the 2026 Annual Conference of the China Development Forum was held in Beijing. Han Wenxiu, Deputy Director of the Office of the Central Financial and Economic Affairs Commission (at the ministerial level) and Director of the Office of the Central Rural Work Leading Group, delivered a keynote speech at the “Macroeconomic Policies and High-Quality Development Seminar.” Han Wenxiu stated that in the coming period, one of the most important and challenging tasks is to steadily enhance the contribution of consumption to economic growth and promote the formation of a more internally driven, consumption-led, endogenous growth economic model. He noted that China’s super-large market advantage has not yet been fully realized, and there is enormous potential to expand consumption, especially in services. There are significant investment opportunities in urban renewal, traditional infrastructure upgrades, and new infrastructure construction. The country will develop and implement income-increasing plans for urban and rural residents to significantly improve the resident consumption rate. Emphasizing the close integration of investment in goods and people, efforts will be made to strengthen human resource development and comprehensive human development investments, fully unleashing the growth potential of a large economy. (The Paper)