China’s Domestic Consumption Unlikely to Pick Up Despite Push For Internal Demand: Expert

Chinese leader says the country will now focus on the domestic market rather than exports

A customer shops for vegetables at a supermarket in Fuyang, China, on Oct. 14, 2022. STR/AFP via Getty Images

China’s economy will now rely less on exports and steer toward the domestic market, Chinese leader Xi Jinping said at the 20th Congress of the Chinese Communist Party (CCP) on Oct. 16.

“We will make sure that our implementation of the strategy to expand domestic demand is integrated with our efforts to deepen supply-side structural reform,” Xi stated.