The Beijing Hour China's economic expansion to boost employment, well-being, AI industry
Mar 6, 2026
Wang Yaojin, assistant professor of economics at Peking University, explains why China’s consumer market is expanding and the hurdles for brick-and-mortar retail. Wang Zihang, business reporter, covers AI industry plans, fiscal forecasts, and market moves. They discuss GDP growth links to jobs and wellbeing, the rise of the silver economy, and international reactions to recent policy shifts.
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GDP Expansion To Support Employment And Well‑Being
- China expects GDP to expand by over 6 trillion yuan this year, a growth target range set at 4.5–5% to support jobs and social well-being.
- NDRC head Zheng Shanjie tied the target to aggregate volume, innovation capacity and risk resilience as foundations for growth.
Domestic Consumption Fueled By Structural Shift And Policy
- China's consumer market rose to global top during the 14th Five‑Year Plan driven by 1.4 billion population, rising incomes and advanced e-commerce.
- Peking University's Wang Yaojin noted policy tools like trade‑in schemes and smart retail to spur offline experiential consumption.
Shift Brick‑And‑Mortar Toward Experience Over Price
- Focus offline retail on experiences and services rather than price competition with e-commerce.
- Policies promoting smart retail, improved vacation systems and leisure time aim to turn stores into community and service hubs.