BEIJING, Dec. 15 -- An article by Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, on the strategic measure of expanding domestic demand will be published on Tuesday.
The article by Xi, also Chinese president and chairman of the Central Military Commission, will be published in this year's 24th issue of the Qiushi Journal, a flagship magazine of the CPC Central Committee.
The article is based on important remarks Xi made from October 2015 to October 2025.
Expanding domestic demand is not a stopgap but a strategic measure that bears on economic stability and security, the article notes, adding that implementing a strategy of expanding domestic demand is necessary for maintaining the long-term, sustained, healthy development of China's economy and meeting the people's ever-growing demand for a better life.
Efforts should be made to boost domestic demand -- and consumption, in particular -- making it a key driver of economic growth and a stabilizer of the economy, according to the article.
It holds that one advantage of a major economy is the ability to achieve internal circulation, and that expanding domestic demand and expanding opening up are not contradictory endeavors.
Ensuring that the implementation of the domestic demand expansion strategy is integrated with efforts to deepen supply-side structural reform is imperative, as are simultaneous, coordinated efforts to boost both supply and demand, with the goal of achieving an optimal dynamic equilibrium where demand propels supply and supply in turn generates demand, the article says.
Noting that China's prominent issue in economic development at present is insufficient aggregate demand, the article calls for prompt efforts to create a complete framework that prioritizes boosting consumer demand through income support, fostering investment demand with reasonable returns, and increasing financial demand with constraints on capital and debt.
