MNI BRIEF:China 2026 Old-For-New Scheme Under Consideration

Authorities in Beijing are reviewing proposals to develop the country’s consumer goods trade in and equipment upgrade scheme for 2026, Wang Shancheng, director at the National Development and Reform Commission, told reporters on Friday.

Plans will be announced after passing the relevant approval process, Wang added.

Chinese officials will aim to raise the household consumption-to-GDP ratio by an average of one percentage point per year over the next five years from the current 39.9% towards the 50-70% range typical of developed economies, MNI understands. (See MNI POLICY: China Targets Investment)