December 15: The Qiushi Journal, published on Tuesday, released an important article by Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee, President of China, and Chairman of the Central Military Commission, titled “Expanding Domestic Demand Is a Strategic Move.” The article compiles key statements made by Xi between October 2015 and October 2025.
The article notes that expanding domestic demand is closely linked to both economic stability and economic security, and constitutes a strategic policy choice. Implementing the strategy of expanding domestic demand is essential to sustaining the long-term, stable, and sound development of China’s economy, as well as to meeting the people’s growing demand for a better quality of life. It stresses the need to remove constraints on domestic demand—especially on consumption—so that domestic demand can become the primary driving force of economic growth and a stabilizing anchor for the economy.
The article emphasizes that the key advantage of China’s domestic economy lies in internal circulation. China should place greater reliance on the domestic market across all stages—production, distribution, circulation, and consumption—to form a healthy and efficient economic cycle. Expanding domestic demand and pursuing opening-up are not contradictory, it notes. The smoother the domestic cycle becomes, the stronger its ability to attract global resources and factors of production. With the domestic cycle as the mainstay, China will be better positioned to build a new development paradigm in which domestic and international cycles reinforce each other, thereby creating new advantages in international competition and cooperation.
The article further points out that the most prominent challenge facing current economic operations is insufficient overall demand. It calls for accelerating the establishment of a comprehensive domestic demand system, expanding employment, improving social security, optimizing the income distribution structure, enhancing and expanding investment mechanisms, further deepening supply-side structural reforms, and continuing to improve people’s livelihoods.
Source: CMG