China pivots to ‘investing in people’ strategy as growth engine switches gears

South China Morning PostEN 2 min read 100% complete by Mandy ZuoMarch 6, 2026 at 06:00 AM

AI Summary

short article 2 min

China is shifting its economic strategy to prioritize domestic demand and "investing in people" as its primary growth engine, moving away from export-led growth and heavy infrastructure investment. Premier Li Qiang announced this shift during the National People's Congress, outlining plans to increase fiscal spending on human capital and social safety nets. This strategy, incorporated into the 15th five-year plan (2026-2030), focuses on improving public well-being through increased support for childbearing, senior care, vocational training, and boosting residents' incomes. The plan includes seven livelihood-related goals among its 20 numerical targets, reflecting Beijing's emphasis on the domestic market amid global uncertainties. This marks the first time this slogan has appeared in such a strategic policy blueprint.

Key Entities & Roles

Key Player Opposition Context

Western 40% National People's Congress 60% Beijing ×370% Li Qiang 70% China ×790%

Keywords

investing in people 100% china 90% domestic demand 70% 15th five-year plan 70% human capital 60% social safety nets 60% economic growth 50% fiscal spending 50% public well-being 50% vocational skills training 40%