Range of macro tools to keep economy on track

China's strategic priorities for the next five years will center on developing new quality productive forces and boosting domestic demand, according to the recently unveiled Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development.

While it is undoubtedly crucial to concentrate efforts on breakthroughs in cultivating new quality productive forces, a persistent shortfall in domestic demand could further reinforce the current macroeconomic situation of strong supply and weak demand.

The urgency of addressing this issue is emphasized because it has evolved beyond a mere medium — to long-term structural challenge and has arguably become a practical factor constraining current economic development.