China’s NDRC Says It Is Drafting Plan to Expand Domestic Demand

The signal here is procedural rather than substantive: a strategy already in place is moving toward an implementation plan, with the NDRC promising both speed and greater intensity. That sequencing matters for anyone tracking Chinese demand-side policy, because it suggests the next phase will be about execution and concrete measures rather than new framing. The open question is what those measures actually contain and how quickly the plan is released — the announcement commits to acceleration but not to specifics.