Why China’s next growth phase will hinge on domestic demand

China's upcoming growth phase is expected to rely significantly on domestic demand. As the country navigates economic challenges, fostering internal consumption may become crucial for sustaining its economic expansion. Analysts suggest that enhancing domestic demand could help mitigate external pressures and contribute to a more balanced economic model. This shift towards prioritizing local consumption reflects a strategic pivot in China's economic policy, aiming to reduce dependency on foreign markets and bolster resilience against global economic fluctuations.