Multiple Chinese departments unveil priorities to implement 2026 economic agenda

As the Central Economic Work Conference, which mapped out the plan for China's economic work in 2026, concluded on December 11, multiple Chinese government departments have successively outlined key work priorities for next year, signaling coordinated efforts to stabilize growth, expand domestic demand, and deepen reform.

China's top economic planner, the National Development and Reform Commission (NDRC), said on Saturday that it will take multiple measures to stabilize investment growth in the coming year.

These measures include leveraging various types of government investment funds, moderately increasing the scale of central budget investment, and continuing to utilize new policy-based financial instruments, the NDRC said at a work conference.

In 2026, the NDRC will work to invigorate private investment, improve the implementation of consumer goods trade-in programs, boost service consumption, cultivate new growth drivers, and further expand high-standard opening-up, in line with the deployment of the Central Economic Work Conference.

In a move to strengthen support for consumption, Chinese authorities released a circular on Sunday, calling for closer coordination between the commerce and financial sectors. The document was jointly issued by the Ministry of Commerce, the People's Bank of China, and the National Financial Regulatory Administration.

The circular calls for establishing sound coordination mechanisms between local commerce and financial authorities. It encourages local governments to utilize various policy tools, such as financing guarantees and loan interest subsidies, to guide credit funds toward critical consumption sectors.

Fiscal policy support will also be strengthened. The Ministry of Finance said on Saturday that it pledged to make good use of various government bond funds and issue ultra-long-term special treasury bonds to support major national strategies, enhance security capabilities in key areas, and advance large-scale equipment upgrades and consumer goods trade-in programs.

According to the ministry, it will continue to refine the management of the use of local government special bonds to better leverage the guiding role of government investment, thus promoting the stabilization and recovery of investment.

Meanwhile, capital market reform is set to advance steadily. The China Securities Regulatory Commission said on Monday that it will initiate and implement the deepening of reform of the ChiNext market, accelerate the implementation of the "1+6" reform measures for the Shanghai Stock Exchange Science and Technology Innovation Board, quickly launch the pilot program for commercial real estate REITs, and study the introduction of key new futures products.

(With input from Xinhua)