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China economic focus August 2026: the 15th Five-Year Plan for consumption
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
• China targets a 3.7% CAGR for retail sales of goods and catering to reach RMB60 trillion by 2030. This is a challenging target given the current slump in household consumption. • The 15th Five-Year Plan focuses on increasing the supply and variety of goods and services. The effectiveness will depend on detailed implementation, affordable provision and stronger household purchasing power. • The plan offers little immediate demand support. As the disruption to transport through the Strait of Hormuz continues, the government is likely to delay stimulus to late 2026 or early 2027.
Table of contents
- Executive summary
- Ambitious targets with no solution to the near-term slump
- Services create demand for goods
- Energy security delays the demand response
- Appendix
Tables and charts
This report includes the following images and tables:
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Retail sales of goods and catering, 2000 to 2025Wood Mackenzie's proprietary China dataManufacturing PMI
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Industrial production and retail salesTradeInflationPropertyInvestmentMoney supply (M2)Required reserve ratio
What's included
This report contains:
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