China again puts domestic demand first, but the payoff will be slow

SHENZHEN – China has made

boosting domestic demand

– household consumption in particular – its top economic priority for a second year running, reaffirming the focus for 2026 at a key annual economic policy meeting on Dec 10 and 11.

The emphasis is clear, but analysts say the results will not come quickly, even as the urgency to translate policy intent into stronger consumption persists in Beijing's long-avowed effort to r ebalance growth away from exports.

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