China lays out comprehensive and balanced economic roadmap

Editor's note: Zheng Junfeng is an anchor at CGTN Global Business. The article reflects the author's opinions and not necessarily the views of CGTN.

Chinese leaders have decided on priorities for economic work in 2026. Boosting domestic consumption has been affirmed as the top priority, according to the just-concluded Central Economic Work Conference. The government will pursue a dual approach: Raising household incomes while expanding the supply of high-quality goods and services.

Confronted with a complex overseas environment, China is poised to rely more on its own market, and it's more than ever ready to do so after years of reform. The country will continue to foster a unified national market, curb "involution-style" excessive competition, and ensure a level playing field for all entities, thereby benefiting businesses, employees, and consumers alike.

Innovation remains central to the agenda too, with plans to strengthen scientific talent pipelines and enhance intellectual property protection. China also aims to accelerate AI's application across various sectors, injecting a smart upgrade into the economy.

In 2026, opening-up policies will remain consistent, and the Hainan Free Trade Port will take the lead. Trade-in services will be encouraged, Belt and Road projects will pursue higher-quality development, and all international trade agreements will be honored.

Rural revitalization remains a key focus, with emphasis on strengthening county-level economies. Developed provinces will continue to support their less-developed counterparts in a coordinated effort.

Green transformation will concentrate on industrial decarbonization, and the new energy system will be further expanded to enable wider use of clean electricity.

Employment support, particularly for college graduates and rural migrant workers, received specific mention. Flexible employment forms will be encouraged, with social safety net coverage extended to those in such jobs.

Real estate policy is a highlight. Measures focus on stabilizing the housing market by limiting new supply, reducing existing inventories, and repurposing unsold homes into social welfare housing. In the meantime, the government will take orderly steps to defuse local government debt risks.

Overall, China's economic policies seem to comprehensive and well-balanced, addressing both immediate and long-term priorities. For those living in the country, these efforts will collectively contribute to creating an environment that feels secure, stable, science-driven, and sustainable.

(Cover image via VCG)