The Communist Party made the pledge Tuesday in a detailed document that was discussed at its fourth plenum held last week in Beijing. China will “form an economic development model driven more by domestic demand and powered by consumption,

China is on a policy-fuelled push to turn the likes of drones and flying taxis into everyday business. Patchy progress and lagging rules risk grounding its sky-high ambitions.

China needs a bolder spending package to mend the finances of households and companies, according to a central bank adviser, as signs of resilience in the economy mask the damage wrought by the trade war with the US.

China's ruling Communist Party says it will focus on speeding up self-reliance in science and technology in the coming five years.

China's economic growth slowed to the weakest pace in a year in the third quarter as fragile domestic demand left it heavily reliant on the humming of its exporting factories, stoking concerns about deepening structural imbalances.

In terms of the GDP, China's economy has achieved an average annual growth rate of 5.5 percent in the first four years.

The July-September data, the weakest pace of growth since the third quarter of 2024, compares with a 5.2% pace of growth in the previous quarter, officials said.

A further increase in China’s trade surplus failed to fully offset the effects of a worsening housing market, which has left consumers wary.

As China's 15th Five-Year Plan takes shape, household consumption looks to be the country’s most daunting challenge, says economist Stephen S Roach.

China's top leaders have pledged to boost the country's self-reliance in advanced technologies and spur stronger domestic demand over the next five years.