From December 10 to 11, the Central Economic Work Conference was held in Beijing. The meeting assessed the current economic situation and laid out plans for economic work in 2026. A number of new formulations emerged, making this conference an important guide for understanding the direction of future economic policy.
Many economists in China believe the meeting directly confronted the main challenges facing the economy and placed greater emphasis on economic growth. Next year, the growth target is unlikely to be lowered and is still expected to remain around 5%. This year, China’s economy is also expected to meet the growth target set at the beginning of the year. Since December, several international institutions have revised up their forecasts for China’s economic growth. For example, the IMF now expects China’s economy to grow by 5% in 2025, while the World Bank forecasts 4.9%—both slightly higher than their previous projections.
The conference set out the policy orientation for next year’s economic work and identified eight key tasks, with domestic demand–led growth and innovation-driven development placed at the top of the agenda.
