China bets on domestic consumption in face of “turbulent changes” from abroad
Chinese President Xi Jinping has warned that China will face a period of “turbulent changes”, marked by “greater external risks”, so he will bet on boosting domestic consumption to sustain its economic growth.
Xi, who attended a symposium on the five-year economic plan to be launched by the Chinese Communist Party (CCP) on Monday night next year, said that “China must be prepared for the challenge” in the face of “increasingly high winds” more contrary in the external environment, ”according to the official Xinhua news agency.
The Chinese President stressed that “it is necessary to establish a new pattern of development”, that has the internal market “as a base” and that allows the internal and external markets to “strengthen”. “The domestic market will dominate the national economic cycle in the future,” he said, quoted by Xinhua.
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