STORY: What to expect as China's local authorities plan for 2025 economy
SHOOTING TIME: recent footage
DATELINE: Jan. 21, 2025
LENGTH: 00:01:19
LOCATION: SHANGHAI/GUANGZHOU, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of "two sessions" meetings
2. various of China
3. SOUNDBITE 1 (Chinese): CHEN JUANLING, Provincial-level lawmaker in Shanghai
4. various of the elderly
5. various of super experience store of JD Mall
6. SOUNDBITE 2 (Chinese): CAI JUNZHE, Staffer of JD Mall in Guangzhou

STORYLINE:

Since the beginning of the year, China's provincial-level regions have been holding their "two sessions" meetings, where government work reports were delivered to outline the development priorities for 2025.

Boosting consumption and developing "new quality productive forces" have continued to be the common goals. The inclusion of new terms such as "debut economy" has also shed light on the pursuit of new growth engines by local governments.

Against the backdrop of the global economic slowdown, initiatives by China's local governments to boost their economy this year have garnered significant attention from around the world.

SOUNDBITE 1 (Chinese): CHEN JUANLING, Provincial-level lawmaker in Shanghai
"In this year's local 'two sessions,' I pay special attention to promoting China-chic products as the main body of self-owned consumer brands. I suggest that to upgrade the consumption, on the one hand, we should maintain the vitality of the young consumer market. And, on the other hand, the market for the elderly should not be underestimated. We can specially develop products suitable for the older population and provide better services."

China's Central Economic Work Conference in December 2024, which heralded the general direction of its economic work for the coming year, said active efforts should be made develop debut economy, ice-and-snow economy and silver economy.

Debut economy is a relatively new concept. It is a catchall to describe companies launching new products, introducing new business models, services and technologies, and opening flagship stores.

The term has been incorporated into the 2025 government work reports of Shanghai, Guangdong, Hunan and Heilongjiang, among others.

Many local government work reports have highlighted the task of boosting consumption in 2025, following the Central Economic Work Conference's pledge to "vigorously boost consumption, improve investment efficiency, and expand domestic demand on all fronts."

Consumption has continued to prop up China's economic recovery, with final consumption expenditure contributing 2.2 percentage points to the country's economic growth of 5 percent last year.

SOUNDBITE 2 (Chinese): CAI JUNZHE, Staffer of JD Mall in Guangzhou
"Our store is the first super experience store in Beijing, Shanghai, Guangzhou and Shenzhen. I hope that after consumers come to the store, they could experience and see with their own eyes what the household appliances will look like after they arrive home. So far, the interaction with customers is very good."

New quality productive forces, industrial upgrades and technological innovation have continued to figure prominently in local economic roadmaps for the second consecutive year. And some pacesetters are going one step farther, setting their sights on more futuristic goals.

Xinhua News Agency correspondents reporting from Shanghai/Guangzhou, China.
(XHTV)