China should add a quantitative target for consumption growth as part of its long-term modernisation goals to help sustain growth momentum as the country’s population declines, a prominent Chinese economist said.
“In addition to setting a gross domestic product growth per capita target through 2035, we should also establish a target for the household final consumption rate – meaning the share of household consumption in GDP should be increased as well,” said Cai Fang, an academician at the…