Chinese Premier Li Qiang emphasized the importance of strengthening domestic consumption on Tuesday, signaling top leadership’s concern over economic resilience amid global uncertainties.

Speaking at a seminar with analysts and entrepreneurs, Li urged the nation to “continuously form new growth points for expanding domestic demand,” according to China Central Television. He also highlighted the need to curb “disorderly competition,” signaling efforts to rein in price wars that can hinder industrial development.

Li’s remarks appeared to subtly reference external pressures, including tensions with the United States, stressing that China’s economy must remain resilient in the face of global changes.

The comments come as Chinese policymakers prepare the 2026–2030 five-year plan, in which domestic consumption is expected to take a central role. Earlier this year, Li described China as “a mega-sized consumer powerhouse on top of its solid foundation as a manufacturing power,” underscoring the government’s push to balance growth between manufacturing and consumption.

If you like, I can also combine this with the South Korea mortgage curbs and Japan political update into a single Asia-Pacific economic and policy roundup for investors.