Chinese President Xi Jinping emphasized the importance of domestic demand as the primary engine for economic growth in a speech delivered at a key policy meeting late last year. The remarks, released Sunday, signal Beijing's continued focus on internal consumption as a counterbalance to external economic pressures.

The speech underscores China's strategy to reduce reliance on exports and foreign investment by leveraging its super-large market of 1.4 billion consumers. This approach aligns with previous initiatives to boost household spending and stimulate domestic industries through targeted fiscal and monetary policies.

By positioning domestic demand as the "main driver" of growth, Xi's comments reflect Beijing's determination to navigate global economic uncertainties while maintaining stable expansion. The emphasis on internal consumption comes as China faces challenges including property sector weakness and slowing export growth, making domestic market strength increasingly critical for sustaining economic momentum.