China's Trade Future: Expanding Imports for Balanced Growth

China's Commerce Minister Wang Wentao announced plans to increase imports and balance trade over the next five years, focusing on consumer benefits, automotive expansion, and appliance upgrades. The 2026-2030 plan also includes new trade and investment agreements.

China is set to bolster its efforts to expand imports and strive for a more balanced trade framework over the next five years, according to Commerce Minister Wang Wentao.

In a recent interview with Xinhua, he highlighted Beijing's initiative to enter additional trade and investment agreements from 2026 to 2030, aligning with the forthcoming five-year plan.

Wang emphasized that policies aimed at directly benefiting consumers will be enhanced, alongside initiatives to boost automobile consumption and encourage the replacement and upgrading of household appliances.

(With inputs from agencies.)