Chinese Premier Li Qiang told the World Economic Forum’s “Summer Davos” in Tianjin on 25 June that Beijing aims to transform the world’s No. 2 economy into a “mega-sized consumption powerhouse” capable of sustaining rapid growth even as global trade tensions intensify. Li said China remains on course to meet its roughly 5% growth goal for 2025 and cast the country as a stabilising force in the international economy. Speaking again the next day, the premier said the government would take “forceful steps” to spur household spending, highlighting what he called the economy’s “strong resilience and development potential.” The pledge follows new guidelines that deploy fiscal and financial tools to raise incomes and support employment as part of a broader shift from export- and investment-led expansion toward domestic demand. Figures released on 15 July by the National Bureau of Statistics illustrate the pivot. The agency reported that final consumption accounted for 52.3% of gross domestic product growth in the second quarter, while net trade contributed 23%. Officials said demand for services is expanding, the real-estate market is showing early signs of stabilisation and policy support rolled out in the first half should continue to bolster spending in the remainder of the year. The statistics bureau cautioned that structural imbalances have not been fully addressed and said Beijing will pair further pro-consumption measures with efforts to improve the investment environment. It also noted China’s reliance on any single export market has fallen to single-digit percentages, leaving room for more diversified growth as authorities press ahead with the consumption-led strategy.