China's most critical economic mission is consumption: Central bank official

Making sense of China’s new heat pump strategy

This week, China’s central government issued a national ‘Action Plan’ to promote heat pumps. The policy offers substantial support for heat pumps but leaves critical questions unanswered—particularly regarding the future of certain types of fossil fuel equipment that currently dominate heating. The Plan marks a significant milestone as the first national-level policy in China dedicated to advancing the heat pump industry. It calls for heat pumps…

China's most critical economic mission is consumption: Central bank official

In this article:China’s top economic policymakers are deeply focused on growing consumption this year. How consumption has declined as contributor to China’s GDP growth in recent years, while exports have picked up the slack. China’s consumption levels remain comparatively low compared to other major economies at similar stages of development. How China plans to grow consumption in 2025 and key policy recommendations. ShareBecome a free subscrib…