Advertisement
Two Sessions 2026
EconomyChina Economy

China’s Politburo signals decisive macroeconomic direction ahead of ‘two sessions’

Top officials met ahead of Beijing’s annual legislative sessions, when this year’s growth target and five-year plan will be unveiled

2-MIN READ2-MIN
Listen
Beijing is gearing up for the “two sessions”, the annual legislative meetings of China’s two main political bodies – the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference. Photo: EPA-EFE
Carol Yangin Beijing

China’s leadership has stressed the need for a more proactive macroeconomic stance to support the country’s new five-year plan, ahead of next week’s annual “two sessions” – one of the country’s most important political events.

Chaired by President Xi Jinping, the Politburo – a major decision-making body of the ruling Communist Party – met on Friday and set a decisive tone for policy direction, highlighting the need to expand domestic demand and strengthen new growth drivers.
Advertisement

In an official readout released by state-run news agency Xinhua, the Politburo said it would “further advance the development of a unified national market, continue to prevent and resolve risks in key sectors, and exert every effort to stabilise employment, enterprises, markets and expectations”.

It also pledged to “promote an effective improvement in the quality of the economy and a reasonable growth in its quantity, [and] maintain social harmony and stability to ensure a strong start for the 15th five-year plan”.
Beijing continues to grapple with domestic deflationary pressures, a years-long slump in the property sector, weak consumption and escalating trade tensions. It is expected to set a lower growth target in a range between 4.5 and 5 per cent for 2026, compared with about 5 per cent last year.

Against this backdrop, the leadership called for greater synergy between reforms and macroeconomic policies to support a coordinated recovery, according to Xinhua.

“Efforts will also be directed towards deepening reforms in key sectors, expanding high-level opening-up and advancing rural revitalisation and coordinated regional development,” it said.

Advertisement

The Politburo stressed the importance of the 15th five-year plan, covering the period from 2026 to 2030, saying the blueprint would be a “critical window” to achieve modernisation.

China must break through “bottleneck constraints” and achieve a high level of self-reliance in science and technology, the leadership said, adding that policy discussions would shed light on fostering “new quality productive forces” adapted to local conditions.

Select Voice
Select Speed
1.00x