Chinese Ambassador to the United States Xie Feng: The "15th Five-Year Plan" with a focus on improving people's livelihood will activate the huge market dividends of China's population of 1.4 billion.

On April 14, during his visit to Indiana in the central-western United States, Chinese Ambassador to the United States Xie Feng was invited to give a speech at a roundtable meeting of the business community in Indiana, introducing in depth the new opportunities of the "14th Five-Year Plan". Xie Feng said, of the 20 major indicators proposed in the "14th Five-Year Plan", 7 are related to people's livelihood and well-being, focusing on the entire life cycle of individuals, with the goal of continuously improving people's welfare from "having" to "excelling". The plan aims to increase the average life expectancy to 80 years, raise the enrollment rate of infants and young children under the age of 3, increase the average education period for working-age population to 11.7 years, build or expand 1000 high-quality high schools, and further promote quality and balanced education. The plan also includes the establishment of 1000 closely-knit county-level medical and health communities to make medical treatment more convenient for the people. Xie Feng emphasized that the "people-centered" approach will unlock the huge market potential of China's 1.4 billion population. Currently, China has over 400 million middle-income group members, and this number is expected to exceed 800 million in the next decade, becoming the main force behind high-end and diversified consumption. Well-known Indiana companies, such as Cummins, generate annual sales revenue of about 5-7 billion US dollars in China, making China their largest and fastest growing overseas market outside of the United States; Eli Lilly and Company is optimistic about its development prospects in China and plans to invest an additional 3 billion US dollars in China over the next decade. Currently, China is actively implementing a special action plan to boost consumption, aiming to create trillion-dollar consumption sectors such as smart connected cars, consumer electronics, elder care products, as well as trillion-dollar consumption hotspots like smart wearables, cosmetics, baby and child products, and pet supplies by 2027. The opportunities of the trillion-dollar market "super bonus" are within reach, and positioning in China means seizing the initiative, with investments in China promising lucrative returns.