CPC leadership holds meeting on 2026 economic work

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The Political Bureau of the Communist Party of China (CPC) Central Committee on Monday held a meeting to analyze and study the economic work of 2026 and review a set of regulations on the CPC’s leadership over law-based governance in all respects, Xinhua News Agency reported.

The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee.

Noting that this year is a year of significance in the process of advancing Chinese modernization, the meeting said China has implemented more proactive and effective macro policies, and the main goals for economic and social development are expected to be successfully accomplished.

Over the past five years, China has effectively navigated various shocks and challenges, and seen significant enhancement of its hard power in areas including economy, science and technology, and national defense, as well as its soft power in culture, institution and diplomacy, among others, according to the meeting.

The meeting emphasized that next year’s economic work should adhere to the principles of pursuing progress while ensuring stability and improving both quality and effectiveness, and continue to implement a more proactive fiscal policy alongside a moderately loose monetary policy.

It is important to maintain the leading role of domestic demand, pursue an innovation-driven approach, and press ahead with critical reform tasks, according to the meeting.

Before the meeting, the CPC Central Committee held a symposium with non-CPC personages on December 3 in Beijing to solicit their opinions and suggestions on this year’s economic situation and economic work of 2026. Xi presided over the symposium and delivered an important speech, Xinhua reported on Monday.

Chinese economists say that the signals released by the meeting point to a stronger policy commitment to consolidating the momentum of economic growth, which will help stabilize market expectations, reinforce confidence in the country’s growth prospects, and lay a solid foundation for the successful launch of the 15th Five-Year Plan in the coming year.

Clear, positive signals

Su Jian, a professor at Peking University’s School of Economics and director of its National Center for Economic Research, said that the meeting sent a clear and positive policy signal that China will adhere to the general principle of pursuing progress while ensuring stability next year, while implement more proactive fiscal policy alongside a moderately loose monetary policy.

“From expanding domestic demand to fostering new quality productive forces and stabilizing employment, the central government laid out clear priorities, providing strong policy support for next year’s economic work,” Su told the Global Times on Monday. He added that these signals respond directly to the needs of economic growth, helping stabilize market expectations and strengthen confidence in China’s development prospects.

The meeting emphasized that to do a good job in economic work next year, it is necessary to fully and faithfully apply the new development philosophy on all fronts, move faster to create a new pattern of development, promote high-quality development, adhere to the general principle of pursuing progress while ensuring stability, and better coordinate domestic economic work and endeavors in the international economic and trade arena.

It is also necessary to better coordinate development and security, implement more proactive and effective macro policies, make policies more forward-looking, targeted and synergistic. It also urged the continuation of expanding domestic demand and improving supply, developing new quality productive forces in light of local conditions, and making thorough efforts to develop a unified national market.

The meeting reaffirmed the policy orientation of adhering to the general principle of pursuing progress while ensuring stability, sending a positive signal of further consolidating the foundation of China’s economic growth, Hu Qimu, deputy secretary-general of the Forum 50 for Digital-Real Economies Integration, told the Global Times on Monday.

“Implementing a more proactive fiscal policy alongside an appropriately accommodative monetary stance will help boost domestic demand more rapidly and precisely. With greater policy space now available, China is better positioned to support growth in key areas such as consumption and technological innovation,” Hu said.

Cong Yi, a professor at the Tianjin School of Administration, pointed to the meeting’s emphasis on policies covering domestic demand, coordinated development, green transition and livelihood issues. “It reflects the broad scope of the policy agenda and helps draw a clearer roadmap for shoring up growth amid internal and external pressures,” Cong told the Global Times.

Cong added that the achievement of this year’s economic and social development goals reflects the effectiveness of central policies, creating favorable conditions for economic performance in the coming year.

China’s GDP grew 5.2 percent year-on-year in the first three quarters of 2025, exceeding 101.5 trillion yuan ($14.3 trillion), according to data from the National Bureau of Statistics (NBS). On a global scale, the growth rate places China among the top performers among major economies, solidifying its position as the most stable and reliable driver of global economic growth, an NBS spokesperson said in October.

Growth confidence 
Monday’s meeting also called for efforts to advance the development of new quality productive forces in light of local conditions. It stressed the need to uphold innovation-driven development and accelerate the cultivation and expansion of new growth drivers.

This aligns with the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development, which place “substantial improvements in scientific and technological self-reliance and strength” as one of the top priorities among the major objectives for economic and social development in the 15th Five-Year Plan period.

Hu said that strategic emerging industries are set to become a major source of economic vitality in 2025. “As China’s technological innovation increasingly achieves industrialization, the country’s market size, manufacturing capacity and infrastructure strengths will be further unleashed, enabling it to play a more influential role in global value chains,” he added.

“The top meeting in effect breaks down the long-term tasks on achieving scientific and technological self-reliance set out in the 15th Five-Year Plan into annual objectives, with scientific and technological innovation expected to serve as an important driver supporting steady and sound economic growth next year,” according to Su.

Multiple foreign institutions have raised their projections for China’s economic growth rates. The Organization for Economic Cooperation and Development (OECD) on December 2 upgraded China’s GDP forecast for 2025 to 5 percent, up by 0.1 percentage point compared with its previous projection in September. 

Chinese economists echoed this confidence for the coming year. Hu noted that the imminent rollout of the 15th Five-Year Plan is expected to deliver more targeted policy support for industrial upgrading, technological innovation and improving people’s livelihoods. 

Su’s confidence comes from China’s ample policy tools and room for maneuver in tackling challenges at home and abroad, he said, adding “China has enough policy capacity to achieve next year’s macroeconomic goals through a more proactive policy mix.”