China’s domestic consumption is set to surge in 2025, driven by ongoing consumer goods stimulus packages and potential social security reforms. Robin Xing, chief China economist at Morgan Stanley, shared these insights during an interview with CGTN.
“A more sustainable consumption growth in China requires increased social security benefits,” Xing stated, analyzing key takeaways from this year’s government work report. He emphasized that deeper social security reform is likely to begin taking shape by the end of the year.
Xing believes that enhancing social security will empower consumers to spend more confidently, boosting the economy. The combination of stimulus packages and reforms could create a robust foundation for long-term growth.
These developments highlight China’s commitment to strengthening its domestic market. For young people in the Global South, China’s approach may offer valuable lessons on how social policies can drive economic prosperity.
