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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
2026 marks the first year of the 15th Five-Year Plan (2026–2030). What strategic moves will the Chinese economy make in this new beginning? The annual sessions of the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC) will open soon, and the outside world is expecting more answers from them.
The main task is to ensure stable economic growth
Looking back at the 14th Five-Year Plan period, one can see that the giant ship of the Chinese economy has maintained its course amidst stormy waves, largely thanks to the consistency of its policies.
During the 15th Five-Year Plan period, the external environment is becoming more complex. The Chinese economy will not only have to address accumulated problems but also face new challenges. Leading international institutions agree that factors such as rising trade tensions and intensifying geopolitical conflicts could create even more obstacles to global economic activity.
In this context, the upcoming sessions of the NPC and the CPPCC National Committee are expected to provide clearer signals on what economic development targets, including GDP growth rates, the authorities will set for the current year and what effective policy measures will be implemented.
Unleashing the potential of domestic demand
From 2021 to 2024, domestic demand contributed 86.8% to China's economic growth on average. At the Central Economic Work Conference held in December 2025, it was proposed to "adhere to a domestic demand-oriented strategy and build a strong domestic market." Expanding domestic demand was again included among the key tasks for 2026.
Currently, the Chinese economy continues to face a structural contradiction: supply exceeds demand. Official authorities have already announced the development and publication of an Action Plan for the Implementation of the Domestic Demand Expansion Strategy for 2026–2030. New measures aimed at achieving a higher level of dynamic equilibrium and a healthy interaction between supply and demand are expected to be presented during the annual sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC). These measures include both the implementation of special programs to stimulate consumption and efforts to stabilize and restore investment activity.
Strategic "first move" in the development of industries of the future
In early 2026, the first collective training of the Politburo of the CPC Central Committee was devoted to long-term planning and development of future industries, which underlines the importance of this area.
Against the backdrop of accelerating global scientific, technological, and industrial transformation, China is taking a long-term perspective, making a strategic "first move" in developing the industries of the future. The "Proposals of the CPC Central Committee for the 15th Five-Year Plan for National Economic and Social Development" emphasize the need to transform quantum technologies, biomanufacturing, hydrogen and fusion energy, brain-computer interfaces, embodied artificial intelligence, sixth-generation (6G) mobile communications, and other areas into new areas of economic growth.
The prevailing view in academic circles is that many countries around the world are still at the same starting point in a number of future industries. Those who are able to implement strategic planning and achieve breakthroughs first are likely to gain an advantage. Private enterprises play a crucial role in this process. To more effectively stimulate their innovation, China is consistently strengthening its support for the private sector at various levels.
Another important issue to be addressed at the upcoming sessions of the NPC and the CPPCC National Committee is expected to be the provisions to be reflected in the Government Work Report and the Outline of the 15th Five-Year Plan for Planning Future Industries and Developing the Private Economy, as well as the valuable opinions and suggestions to be made by NPC deputies and CPPCC National Committee members on these issues.
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