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China rolls out services-consumption work plan, launches Spring Festival spending drive

2026-02-02 09:28   环球时报网英文版

  Consumers shop for festive decorations at a supermarket in Beijing on January 25, 2026, as demand is on the rise ahead of the upcoming Year of the Horse. Photo: VCG

  China has unveiled a national work plan to cultivate new growth drivers in services consumption, and on Thursday it also launched the 2026 National Spring Festival culture and tourism consumption month, moves that analysts said are expected to better anchor consumption expectations and translate policy support into more stable demand momentum.

  The General Office of the State Council recently released a work plan on accelerating the cultivation of new growth points in services consumption, outlining steps to expand and upgrade services supply and channel more consumption toward areas that directly improve people"s livelihoods, as part of broader efforts to support the country"s high-quality economic development, the Xinhua News Agency reported on Thursday.

  The work plan sets out three areas of policy support, focusing on upgrading everyday and travel-related services, unlocking demand in high-potential consumption sectors such as performances and sports events, and strengthening institutional support through standards, credit systems and financial backing.

  As policy support intensifies, consumption expansion centered on services and culture will be released in a concentrated manner at upcoming key moments, and will serve as an important pillar for stabilizing growth over a longer cycle, Hu Qimu, deputy secretary-general of Forum 50 for Digital-Real Economies Integration, told the Global Times on Thursday.

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