The top item on its priority list? Boosting consumer demand to ensure China doesn’t need to rely on exports to power its vast but slowing economy. And the next: driving forward leader Xi Jinping’s bid to transform the country into a technological superpower, by ramping up investment and enlisting the private sector.
Beijing is making these moves as it prepares for what could be a protracted economic showdown with the United States. Trump doubled additional tariffs on all Chinese imports to 20% on Tuesday and has threatened more to come – as well as tighter controls on American investment in China.
