Xi Eyes Consumers to Lead New Era for China’s Unbalanced Economy

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Chinese leaders typically see consumption as a derivative of industrialization and development.For decades, China’s leaders have failed to heed calls to rebalance the economy toward consumption as they pursued an investment-heavy, export-oriented growth strategy. Now, an historic change is planned that — if successful — stands to reshape China’s economic relations with the world. In coming days, President Xi Jinping and his officials will unveil the 15th Five-Year Plan, including a goal to spur a “significant increase” in consumption by 2030 — language more urgent than previous Communist Party calls on domestic spending.