China targets hi-tech industries, domestic demand in 2026 with new policy package
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Chinese authorities have signalled a new wave of measures to bolster domestic demand and hi-tech industries in the coming year, as Beijing seeks to rebalance growth and shore up momentum during its next five-year plan.
Officials were now drafting an implementation plan to expand domestic demand from 2026 to 2030, the National Development and Reform Commission (NDRC) said at its press conference.
“We believe that consumption and investment, technology and industry, and urban and rural development will all unleash significant development potential,” said Zhou Chen, head of the NDRC’s department of national economy, about the coming year.
Officials pledged to use the national venture capital fund – launched in December to invest in early-stage tech start-ups – as a benchmark, and said they would study creating a national-level mergers and acquisitions fund to accelerate industrial upgrades.
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The NDRC also stressed the need to relax market access, optimise regulation and remove unreasonable restrictions to boost consumption. To support household spending, officials said they would draw up plans to stabilise employment and raise urban and rural incomes.