China's latest five-year blueprint doesn't just pledge to develop new quality productive forces -- it maps out exactly how to get there.

   The outline of the 15th Five-Year Plan (2026-2030), adopted on Thursday, places the integration of technological and industrial innovation in a prominent position, aiming to move lab-born technologies onto factory floors to unlock trillion-yuan opportunities across its real economy sectors.

   These high-value opportunities stem from the plan's designation of new-generation information technology, new energy, new materials, intelligent connected new energy vehicles, robotics, biomedicine, high-end equipment and aerospace as strategic emerging industries for priority development.

    The plan also spotlights quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, brain-computer interfaces, embodied AI and 6G as future industries to be nurtured.

    China's emerging pillar industries are expected to break the 10-trillion-yuan benchmark by 2030, while frontier technologies are poised to mushroom into an entirely new high-tech sector over the next decade.

CORPORATE ROLE

   Tech firms are rapidly striving to harness the tremendous growth potential of this new wave propelled by innovation. Humanoid robots wowed audiences at this year's Chinese New Year gala with their kungfu moves and natural interactions with people. Now, these breakout stars are moving from spectacle to real-world deployment.

     Galbot, the walnut-cracking sensation of the festival gala, recently debuted at a Beijing pharmacy -- locating drugs on shelves and retrieving them with precision.

    Chinese-made smart robots are also training on multiple automotive factory floors, showcasing the vast potential of deploying such intelligent machines for real-world efficiency gains. In January, UBTECH, a humanoid robot developer in Shenzhen, struck a deal to supply robots to aviation giant Airbus for use in its manufacturing facilities.

   These vibrant corporate innovation activities reflect China's push to put enterprises front and center in venture investment, R&D and commercialization.

    The new five-year plan calls for greater corporate participation in decision-making, implementation and data sharing for major national sci-tech projects. It also encourages leading tech companies to form "innovation consortia" for collaborative research on key technologies and pilot demonstrations.

    In Hangzhou, an innovation hub in eastern China, Deep Robotics is benefiting from this academia-industry collaboration mechanism. Last July, this leading Chinese private robotics startup teamed up with Zhejiang University to launch a postdoctoral workstation. The first researcher has since started work at the facility.

     According to the major development targets for the 2026-2030 period outlined in this year's government work report, China projects an average annual increase of at least 7 percent in nationwide R&D spending. Enterprises account for over 77 percent of this investment currently, a level comparable to the United States and Japan.

GOV'T BACKING

    At the just concluded national legislature session, a lawmaker from Hubei, a central Chinese province, revealed that basalt fiber, which was used as a special material for the national flag showcased on the moon's far side in the 2024 Chang'e-6 mission, has already been applied to firefighter uniforms by local teams. The rapid tech transfer was made possible by their pilot testing platform.

    The 15th Five-Year plan highlights the rollout of such pilot testing platforms, including a national AI application pilot base. These government-backed facilities bridge the gap between research findings and corporate profits.

    The blueprint maps out how China plans to achieve original innovation from zero to one -- viewed as a strategic capability that cannot be acquired from abroad -- and continuously scale it up.

    "If lab R&D achieves the '0 to 1' breakthrough, then pilot testing aims to complete '1 to 10,' and enterprises are responsible for turning '10' into thousands and millions," said Liu Qing, director of the Yangtze River Delta National Innovation Center.

    Additionally, to enable its vast legacy manufacturing sector to benefit quickly from AI-powered digitalization, Chinese authorities have introduced a tiered smart factory certification system, offering eligible facilities preferential treatment in taxation, financing, bidding and IPOs.

   As of 2025, China has built over 35,000 basic-level, more than 8,200 advanced-level, over 500 excellence-level and 15 flagship smart factories nationwide.

   At a busy training facility in western suburban Beijing, humanoid robots were using VR and motion capture system to learn practical skills like warehouse operations, material sorting, and product packaging. This is a humanoid robot school jointly built by the government and a private firm. Similar facilities are already operating in Shanghai, Wuhan, and Hangzhou.

    These efforts are also reflected in the use of national research funds. The National Natural Science Foundation of China has partnered with four private pharmaceutical firms through a joint fund to bankroll solutions to technical bottlenecks these companies are eager to overcome.

    Exploring "sandbox regulation," or testing frontier tech in a controlled, isolated environment to foster new businesses, has also been written into the plan.

GLOBAL OPPORTUNITIES

   China's economic agenda stands ready to bring dividends to foreign investors. The plan seeks to channel foreign investment into advanced manufacturing, modern services, high-tech sectors, and green energy and environmental technologies. It also aims to attract multinational companies to set up regional headquarters and R&D centers in China.

    An increasing number of global investors have taken note of this shift. Last October, AstraZeneca's new global R&D center was opened in Beijing, marking the British pharmaceutical giant's sixth global strategic R&D center and its second in China, following its first in Shanghai.

    "We are seeing a transition from 'growth at all costs' to industrial upgrading," said Shirley Yinghua Shen, Greater China tax policy leader of Ernst & Young (China) Advisory Limited. "The focus is no longer just on attracting capital, but on integrating foreign technology into China's new quality productive forces."

   Another pharmaceutical giant, Bayer, has also expressed strong optimism. "Through a series of favorable policies for foreign investment, it has consolidated the development expectations of enterprises," Sue Wang, vice president of Public Affairs and Sustainability, Bayer China, told Xinhua.

   Bayer is looking forward to "continuing investment in China under the blueprint of the 15th Five-Year Plan, seizing opportunities in the Chinese market, and working with partners to bring more innovative solutions to market," said Wang.

    "The coming half-decade marks a pivotal transition period for China's economy, moving from high-speed growth to high-quality development," said Hu Jinbo, a national advisor and chemist from the Chinese Academy of Sciences.

    "Tech innovation will serve as the core engine driving this transformation while injecting new growth momentum into the global economy," he added.

 This photo taken on March 12, 2026 shows the Great Hall of the People ahead of the closing meeting of the fourth session of the 14th National People's Congress (NPC) in Beijing, capital of China. 

    The outline of the 15th Five-Year Plan (2026-2030) for national economic and social development signals a clear shift toward higher-quality, innovation-led growth, while placing the improvement of people's social well-being at the forefront, said Gerald Mbanda, a Rwandan publisher and researcher.

    With embodied artificial intelligence (AI), brain-computer interfaces and 6G mobile communications featuring prominently in documents released during the "two sessions," innovation is set to drive China's high-quality development in the new stage.

    Experts around the world highlighted that, driven by quality improvement, technological upgrading and structural optimization, the country's 15th Five-Year Plan (2026-2030) is expected to continue boosting domestic development and channel its innovations into global cooperation.

People visit the 34th Harbin International Economic and Trade Fair in Harbin, capital of northeast China's Heilongjiang Province, May 19, 2025. 

INNOVATION FOR PEOPLE'S WELL-BEING

   The outline of the 15th Five-Year Plan (2026-2030) for national economic and social development signals a clear shift toward higher-quality, innovation-led growth, while placing the improvement of people's social well-being at the forefront, said Gerald Mbanda, a Rwandan publisher and researcher.

    "It is an important indicator that the government leadership puts first the interest of the people," he said.

    China's 15th Five-Year Plan highlighted "new quality productive forces," with a focus on scientific advancement, industrial upgrading, and long-term development, said Richard A. Black, a senior scholar with the Schiller Institute.

   Black said the plan reflects a view that long-term prosperity depends on a commitment to "the real economy" -- manufacturing, infrastructure and energy systems.

   Marcela Vera, an economist at Chile's University of Santiago, said that while innovation in the West tends to be confined to big firms using tech barriers to protect profits, it is widely applied to advance social development and enhance people's well-being in China.

    Citing his experience in China, Dennis Munene Mwaniki, executive director of the China-Africa Center at the Africa Policy Institute in Kenya, said that China has become a leading nation in AI development and integration.

     He recalled visiting a hotel where a robot served him, noting that such machines can also handle jobs far too risky for humans, like welding.

    He added that China has developed AI capable of detecting some health conditions early, improving the healthcare system and saving lives. It has also been "instrumental" in agriculture, he said, helping cultivate crops resistant to harsh conditions, delivering people from hunger and starvation.

    Experts perform an orthopedic surgery with a robotic system at the Tongzhou branch of Beijing Anzhen Hospital in Beijing, capital of China, Feb. 3, 2026. 

INNOVATION FOR SHARING

    Experts pointed out that the policy priorities unveiled at the "two sessions" further cemented China's role as a global innovation hub while creating major opportunities for global cooperation.

     Mwaniki said that China's AI has been effectively applied through international cooperation and partnerships, noting that the country has worked with African countries to breed climate-resilient crops in regions where people are dying from hunger.

     Ismael Buchanan, a senior lecturer at the College of Arts and Social Sciences of the University of Rwanda, expressed a similar view.

    "I believe African countries could greatly benefit from learning from Five-Year Plans launched by the Chinese government," he said, suggesting that they strengthen trade and partnerships with China, a path many are already actively pursuing.

     European countries are also closely following the "two sessions," looking forward to sealing some deals.

    "For the outside world, especially for Europe, it is important to see where the new space for China's further growth lies," said Marina Ragus, deputy speaker of the National Assembly of Serbia.

    Ragus said that China's "sustained investment in innovation, advanced production lines and automation" has driven structural transformation, generated employment and improved living standards.

    Clemens Schuette, chairman of the board of the German-Chinese Business Association, said China has evolved from "a low-cost manufacturing base into a major market and an important innovation hub," citing BMW, Volkswagen, Siemens and BASF as examples of companies expanding local research and engineering capacities in China.

    German firms are increasingly recognizing China's role as a global innovation leader, he noted. "Many companies are expanding cooperation with Chinese partners not only to remain competitive in China but also to benefit globally," he said.

    Satyajit Bose, professor of Practice at Columbia University, praised China's role in expanding the global reach of clean energy. The 15th Five-Year Plan's emphasis on "high-quality development" demonstrates a commitment to ensuring that growth must incorporate environmental sustainability and structural upgrading, Bose said.

    Describing renewable energy as a "promising part of Chinese development," he noted that falling solar production costs have made clean power more accessible to lower-income countries and created opportunities for longer-term cooperation.

    China's annual "two sessions" have drawn elevated global attention this year, as lawmakers prepare not only to set the agenda for the coming year but also to approve a plan that could shape the country's trajectory through the end of the decade.

    The meetings of China's top legislature and top political advisory body convene against a backdrop of deepening global turbulence. As geopolitical rivalries increasingly flout established rules and conflicts escalate in the Middle East, the international order faces unprecedented strain.

    Policy choices of China -- the world's second-largest economy and home to 1.4 billion people -- reverberate far beyond its borders. The direction set at this year's "two sessions" will therefore be closely watched, particularly as many look to China for signals of stability in an increasingly uncertain world.

    Currently under legislative review, the draft 15th Five-Year Plan maps out how China will advance over the next five years toward the goal of basically achieving modernization by 2035. A distinctive feature of this modernization is its emphasis on peaceful development.

    In the next five years, China is expected to work with neighbors to advance integrated development and maintain overall stability in its relations with major nations, according to the draft plan.

    At a press conference on China's foreign policy held on the sidelines of the legislative session, Foreign Minister Wang Yi reaffirmed that China will not pursue hegemony as its strength grows, nor does it subscribe to the logic that the world can be run by major countries.

    Analysts say that China's preference for peace stems in part from a deep-seated cultural and historical instinct.

   For much of its millennia-long history, China ranked among the world's leading nations. Its influence tended to travel through commerce, ideas and cultural exchanges, rather than through conquest or colonization.

   The ancient Silk Road carried caravans across continents, while admiral Zheng He's maritime voyages in the 15th century reached as far as Africa, leaving behind silk, tea and porcelain -- not forts, colonies or cannon fire.

    This restraint was a deliberate choice, integral to classical Chinese statecraft. "The Art of War" elevates victory without battle as the highest strategic ideal, and ancient thinkers warned that powers addicted to conflict would ultimately exhaust themselves.

    Modern history reinforced the national psyche more brutally. After the Opium War of 1840, China endured invasions, bullying and humiliation at the hands of Western powers. Japan's invasion, beginning in the early 1930s and continuing through World War II, left deep and lasting scars on the country.

    These experiences hardened an aversion to war and fostered a conviction that recovery and rejuvenation must come through internal effort rather than external expansion.

    The decades since the founding of the People's Republic of China in 1949 have validated this path. The country has not initiated a war or seized an inch of foreign territory, yet it has grown into the world's second-largest economy and maintained that position for more than a decade.

    This stance reflects not only the cultural continuity of the Chinese nation, but also the founding philosophy of the governing Communist Party of China (CPC).

   Peaceful development is no diplomatic platitude; it is embedded in the country's institutional fabric -- explicitly codified in both the national Constitution and the Constitution of the CPC.

    By proposing to build a community with a shared future for humanity in 2013, China's message has been clear: In an era fraught with challenges, humanity's enemies are not one another, but war, poverty, hunger and injustice.

    No one can fight these battles alone, nor can any hope to carve out a path by only looking after their own interests. Instead, the world must come together to build a common future.

    On a deeper structural level, China's reassurances for the world come from the fact that the country maintains its ties with the wider world through trade and production networks.

    The country boasts all the industrial categories listed in the UN industrial classification. As the world's largest goods trader and one of the largest consumer markets, China trades extensively with more than 160 countries and regions.

    Such interdependence is arguably one of the most effective safeguards for global security, as mutual economic stakes can help mitigate geopolitical rivalry.

    The upcoming 15th Five-Year Plan is expected to carry this model of global engagement into the next phase. It will likely see China open its doors wider, promote balanced trade, and improve the overseas layout of its industrial and supply chains.

    Amid these extensive economic linkages, China has maintained a defensive military posture. Its defense spending remains modest across key relative indicators, including the share of GDP, per capita defense expenditure, and defense expenditure per military personnel member.

    For instance, China's defense spending has consistently stayed below 1.5 percent of GDP for many years. By contrast, NATO members have decided to ramp up their defense expenditure to 5 percent of GDP by 2035.

    To the east, Japan's defense spending per capita in the 2025 fiscal year was three times China's, while its spending per defense personnel member was more than twice that of China.

    China adheres to a no-first-use policy on nuclear weapons. It is the second-largest financier of UN peacekeeping operations, and the leading contributor of troops among the permanent members of the UN Security Council.

     The country aspires to peace, yet it recognizes that maintaining peace requires vigilance.

   There are a plethora of ways to defend peace, uphold security and deter war, but military capability remains the ultimate backstop. China is unequivocal in defending its sovereignty, security and development interests. That resolve must never be underestimated.

    As China's annual "two sessions" get underway, "new quality productive forces," a signature concept proposed by President Xi Jinping, has emerged as a key theme set to shape the nation's future economic development.

    While taking part in a deliberation with his fellow deputies from the Jiangsu Province delegation at the national legislative session on Thursday, Xi noted that developing new quality productive forces is crucial for promoting high-quality development and enhancing economic competitiveness.

    First put forward in 2023 by Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, the concept of new quality productive forces has seen its essence and pathways come into sharper focus.

    During the "two sessions" in 2024, Xi stressed the need to seize the opportunities to nurture emerging and future industries, and to transform and upgrade traditional industries at the same time.

    One year later, also at "two sessions," Xi once again stressed the pivotal role of new quality productive forces, emphasizing that sci-tech innovation and industrial innovation form the fundamental path to foster these forces.

    Artificial intelligence (AI), as a representative of the new quality productive forces and a standout in China's sci-tech advancements, is now driving upgrading and innovation across industries -- a process Xi has closely followed with keen interest.

    At a group study session of the Political Bureau of the CPC Central Committee in 2018, Xi likened AI to a "lead goose," underscoring that "AI is a strategic technology driving this round of technological revolution and industrial transformation."

    Another such group study session that Xi presided over in 2025 once again turned the spotlight to AI. Days later, Xi visited the Shanghai Foundation Model Innovation Center -- an AI incubation hub that is home to over 100 startups.

    At the center, he was presented with a range of AI-driven equipment and systems -- robots autonomously gathering experimental data that facilitates drug development; mechanical arms mastering complex tasks for smarter production lines; and AI-powered sorters that can identify waste precisely. This vibrant cluster of innovation is a microcosm of China's broader AI push, where cutting-edge technologies are moving rapidly from labs to real-world scenarios.

    China has abundant data resources, a complete industrial system, and huge market potential, offering broad prospects for AI development, said Xi, calling for stronger policy support and talent cultivation in this regard.

    Driven by this sustained focus and reinforced by policy support at various levels, China's AI sector has advanced in leaps and bounds. From the notable debut of DeepSeek to the recently tested text-to-video tool Seedance 2.0, the AI sector has witnessed breakthroughs one after another, and proves to be a generative ground for the rise of new quality productive forces.

     By the end of 2025, China was already home to over 6,200 AI enterprises, with the core AI industry valued at more than 1.2 trillion yuan (about 173.9 billion U.S. dollars). AI-related industries are expected to exceed 10 trillion yuan by 2030.

    The draft outline of the country's 15th Five-Year Plan (2026-2030), which was submitted to the national legislature for examination on Thursday, shows that AI will be further harnessed to advance basic science, transform traditional and frontier industries, create new consumption scenarios, innovate governance, and enrich people's daily life.

     Beyond AI, Xi is also keeping an eye on other emerging and future-oriented industries.

    During this year's first group study session of the Political Bureau of the CPC Central Committee in January, he emphasized that cultivating industries of the future is of great significance for developing new quality productive forces, building a modernized industrial system, improving the people's quality of life, and promoting people's well-rounded development and all-round social progress.

    Then on Feb. 9, Xi came to Beijing's E-Town -- a hotbed for emerging and future industries -- where he visited a national information technology innovation park, once again turning his attention to representative sci-tech innovations.

     The numbers speak for themselves: In 2025, the added value of China's high-tech manufacturing enterprises above the designated size increased by 9.4 percent from the previous year; the export value of high-tech products rose by 13.2 percent; and the output of service robots, memory chips and 3D printing equipment all saw double-digit growth. Emerging and future industries are making greater contribution to the country's economy, fundamentally reshaping its structure.

     Under the leadership of Xi, China is navigating a clear course, backed by steadfast top-level design. The draft outline of the new five-year plan has put forward the goal of accelerating the development of strategic emerging industries, including next-generation information technology, new energy and new materials. It also aims to transform future industries such as quantum technology, biomanufacturing and brain-computer interfaces into fresh growth drivers for the economy.

     Xi's vision for new quality productive forces gives equal weight to revitalizing traditional industries. His message is clear: Traditional industries will not be abandoned, but renewed.

    During a 2025 visit to Yangquan Valve Co., Ltd., a century-old enterprise in north China's Shanxi Province, Xi pointed out that it is imperative to respond to market demand and enhance sci-tech innovation to breathe new life into traditional industries.

     Engineers in the company have developed innovative products like hydrogen-pipeline ball valves, opening new markets while enhancing the company's core capabilities.

   Its evolution exemplifies how old firms renew themselves: By focusing on innovation and boosting investment in research and development, the company has earned itself the designation of "little giant" -- a title for outstanding specialized, high-tech small and medium-sized enterprises.

   "Transforming and upgrading traditional industries can also foster new quality productive forces," Xi once said. "Even established enterprises can achieve high-end, smart and green transformation."

    Chinese Foreign Minister Wang Yi held a press conference on Sunday on the sidelines of the fourth session of the 14th National People's Congress.

    Wang answered questions of journalists from home and abroad on China's foreign policy and external relations. Here are some highlights from the press conference.

On head of state diplomacy

Heads-of-state diplomacy is the anchor of Chinese diplomacy.

On China-Russia ties

China-Russia relations remain "as steady as rock" despite test of winds, rains.

On APEC

China is committed to translating the goal of building an Asia-Pacific community into concrete action and turning the blueprint into reality as it hosts the Asia-Pacific Economic Leaders' Meeting in Shenzhen, Guangdong province, this year.

On U.S.-Iran conflict

China calls for an immediate stop to military operations in the Middle East to prevent further escalation and avoid the spillover of the conflict.

On global governance

Over 150 countries and international organizations have voiced support for the Global Governance Initiative; Leading status of the UN must be strengthened, not weakened.

On China-U.S. ties

China and the U.S. can't change each other, but can change how they get along; China is always committed and open to cooperation with the U.S..

On neighborhood diplomacy

China always places neighboring region a priority in its diplomatic agenda.

On China-Europe ties

China-Europe relations have been regaining strength; China is not a competitor but a global partner.

On China-Africa ties

For 70 years, China-Africa friendship has withstood changes in international circumstances.

On globalization

Pursuing protectionism is akin to locking oneself in a dark room; Principle is to leave no country behind, pathway is for countries to draw on each other's strengths.

On China-Japan ties

The future of China-Japan relations hinges on Japan's choice

On South China Sea

Peace, cooperation and friendship should be the new narrative in the South China Sea.

On China-India relations

SCO Tianjin Summit brought about further improvement in China-India relations

On Taiwan question

Taiwan has been an integral part of China since ancient times; Taiwan's DPP is the root cause of disruption to peace and stability across the Taiwan Strait.

On community with shared future for mankind

Our enemies are not each other, they are poverty, war, hunger and injustice.

The State Council Information Office (SCIO) holds a press briefing on the draft Outline of the 15th Five-Year Plan (2026-2030) in Beijing, capital of China, on March 7, 2026. 

    Over one third of China's major development targets for the 2026-2030 period will focus on resolving the pressing difficulties and problems that concern the people most, an official told a press conference Saturday.

    To tangibly improve the educational and health standards of the people, the draft outline of the 15th Five-Year Plan sets targets to increase the average years of education for the working-age population, the average life expectancy, and the number of medical staff per 1,000 people, said Zheng Bei, deputy head of the National Development and Reform Commission (NDRC).

    China will strive to increase the share of nursing beds in elderly care institutions and provide more high-quality nursing services to address the needs of seniors with functional disabilities and dementia, she said.

    Liu Dechun, an NDRC official in charge of social development, said at the press conference that the draft outline urged efforts to improve the childcare services and increase the rate of kindergarten enrollment of infants under the age of three by six percentage points.

To foster a more birth-friendly society, work will be done to expand the coverage of maternity insurance and fully implement parental leave, Liu said.

    From the martial arts performance of humanoid robots to the global buzz around Seedance 2.0, an AI video-generation model, China's latest innovations have captivated the world since the dawn of the Year of the Horse.

    "Innovation is development; innovation is the future," Chinese President Xi Jinping has stressed. Since taking the helm of the country, Xi has keenly grasped the momentum of a new wave of technological and industrial transformation, steering China to pursue an innovation-driven development strategy with greater resolve.

    Today, China's surge in innovation is not only strengthening the bedrock for its domestic development but also creating new opportunities for the world. As the annual "two sessions" convene in the opening year of the 15th Five-Year Plan period (2026-2030), the world looks to China for its new blueprint -- one that promises innovative development and a shared future of win-win cooperation.

A VISIONARY STRATEGY

     The innovations that have dazzled the world are rooted in a far-reaching blueprint and realized through steady, deliberate effort at every step.

    In 2013, at the first "two sessions" convening after the 18th National Congress of the Communist Party of China (CPC), Xi emphasized the need to unswervingly pursue an independent innovation path with Chinese characteristics, deepen scientific and technological system reform, continuously open up new prospects for national innovation and development, and promote China's transformation from a major economy to a strong economic power.

    Both the 13th and 14th five-year plans placed a strong emphasis on technological innovation. In the recommendations for formulating the 15th Five-Year Plan, "technology" and "innovation" appear 46 times and 61 times, respectively.

    In the eyes of Clemens Schuette, chairman of the board of the German-Chinese Business Association, innovation is not a temporary policy priority for China, but a clear and steadfast long-term strategic choice.

     China's in-depth implementation of its innovation-driven development strategy is not only a rational response to the trend of the times, but also a move that will profoundly shape the path of global innovation, he observed.

    "Innovation is the primary driving force behind development," Xi said. He has put forward a series of top-level designs and major initiatives to drive innovation-led development.

    China has entered a vital period when new industrialization, application of information technology, urbanization and agricultural modernization are advancing in tandem. This synchronous surge is creating boundless opportunities and generating unprecedented momentum for indigenous innovation.

    A clear path has been mapped out: to drive industrial innovation through technological breakthroughs. By leveraging disruptive and cutting-edge technologies to cultivate new industries, business models, and growth engines, China aims to fully unleash new quality productive forces.

    The strategy has also shaped a forward-looking industrial landscape. China is actively developing future industries, scaling up emerging sectors and upgrading traditional industries, steadily transforming innovation potential into economic growth.

    The international community has shown strong interest in China's innovation-driven growth. During recent visits to China, foreign leaders have come face to face with the country's intelligent manufacturing: South Korean President Lee Jae Myung shook hands with a Chinese robot; Uruguayan President  Yamandu Orsi rode on a Chinese high-speed train; and German Chancellor Olaf Scholz tried out a driver-assistance system developed through collaboration between Chinese and German companies.

    The World Intellectual Property Organization (WIPO)'s Global Innovation Index 2025 shows that China's innovation index has entered the top 10 worldwide for the first time.

A CONCENTRATED EFFORT

     Why does China succeed in innovation? It is a question frequently raised by international observers.

    During his visit to a national information technology innovation park in Beijing in February 2026, Xi urged efforts to concentrate strength on major undertakings and pool all quality resources to secure breakthroughs.

    China's innovation advance, many analysts say, benefits from its ability to marshal resources.

   The country's recommendations for formulating the 15th Five-Year Plan call for improving the new system for mobilizing resources nationwide and adopting unconventional measures to drive decisive breakthroughs in core technologies across entire chains in key fields such as integrated circuits, industrial machine tools, high-end equipment, basic software, advanced materials, and biomanufacturing.

    Lawrence Loh, director of Centre for Governance and Sustainability at National University of Singapore Business School, said this approach stands out internationally.

   It is good that the new five-year plan is a whole-of-nation approach to raise the level of innovation capacity in both private and public sectors and across all administrative levels of the country, Loh said.

    China's innovation strategy is distinct in its ability to align national priorities, public needs and market demand.

   It deploys cutting-edge technologies across the entire spectrum: from the celestial heights of space exploration, exemplified by the Chang'e lunar missions, to the grassroots level, where 5G-enabled telemedicine brings world-class care to remote rural communities. International analysts point to this seamless ecosystem as a key differentiator.

    China's innovation development also draws strength from global collaboration.

   Today, China has established scientific and technological cooperation with more than 160 countries and regions. Chinese new-energy vehicles are produced in factories in Europe, while European automakers carry out joint research and development in China. Multinational pharmaceutical companies are setting up research hubs in China, and Chinese innovative drugs are expanding overseas through models of joint development and joint commercialization.

A JOINT ACTION

    "Innovation is an important driving force that propels world development," Xi said at the 28th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in November 2021, highlighting the central role innovation plays in the world's progress.

    China's push for international cooperation in science and technology mirrors a consistent principle: innovation should benefit the entire world.

   As Xi has pointed out, as a new round of sci-tech revolution and industrial transformation continues to evolve, mankind needs international cooperation, openness and sharing more than ever in order to address common development problems.

    During the Shanghai Cooperation Organization (SCO) Tianjin Summit, the parties adopted a statement on further advancing cooperation in science, technology, and innovation and announced the establishment of the China-SCO Sci-Tech Innovation Cooperation Center.

    China is emerging as a pivotal force in the global landscape of innovation. The BeiDou Navigation Satellite System provides services to more than 140 countries and regions, while China's high-speed rail technology offers solutions for upgrading transportation networks worldwide.

    China's innovation drive has never been confined to itself. Through platforms such as the Belt and Road Initiative, the SCO and BRICS, China shares technology and market opportunities with the world, said Ruslan Yesin, head of the Department of the Central Committee of the Communist Party of Belarus on SCO and BRICS interaction.

    China will "promote balanced trade" this year by expanding imports while stabilizing exports, a strategy that aims to turn its domestic market into development opportunities shared by trading partners worldwide, officials and economists said.

   "China will leverage its super-sized domestic market advantages to expand imports of agricultural products, quality consumer goods, advanced technology equipment and key components," said Commerce Minister Wang Wentao on Friday.

    As the world's second-largest import market, China possesses substantial untapped market potential underpinned by its rapidly expanding middle-income group, Wang said at a news conference on the sidelines of the fourth session of the 14th National People's Congress, the country's top legislature.

    "Exports and imports function like the two wheels of a vehicle — the more balanced they are, the smoother and farther the vehicle travels," Wang said.

    The General Administration of Customs said China's imports totaled 18.48 trillion yuan ($2.68 trillion) in 2025, accounting for around 10 percent of global imports.

    Robert Koopman, former chief economist at the World Trade Organization, said that over the next five to 10 years, "an important evolution in China's role is going to shift toward being a big center of demand" for the rest of the world.

    In November, China launched the "Big Market for All: Export to China" campaign — a series of events designed from the perspective of its trading partners to expand import channels and promote the entry of more high-quality products and services from around the world into China.

    "In an era of rising protectionism and unilateralism, a market of such scale and openness has become perhaps the world's most sought-after resource," said Liao Fan, director of the Chinese Academy of Social Sciences' Institute of World Economics and Politics.

    The import-friendly efforts also align with Beijing's push to boost consumption as Chinese households increasingly seek diverse products and services that foreign suppliers are well-positioned to provide, said economists and executives.

    Marshall Mills, the International Monetary Fund's senior resident representative in China, said that China's rebalancing toward consumption-led growth would help narrow global trade imbalances and support stronger, more sustainable development worldwide, as the country's large current account and trade surpluses are expected to decrease over time amid the rebalancing process.

    Zhang Ying, managing director of French software company Dassault Systemes Greater China, said that China's "unique innovation atmosphere and vast market prospects" offer massive possibilities for foreign businesses.

   Zhang added that the company plans to strengthen its presence in new energy vehicles, smart manufacturing and the low-altitude economy to seize emerging opportunities.

    Meanwhile, Commerce Minister Wang emphasized the need to stabilize exports in the face of a "complex and severe" external environment.

    Wang said China will accelerate the development of digital and green trade, and promote the export of artificial intelligence products and green power equipment to foster new momentum for foreign trade.

    Moreover, China will accelerate negotiations for more free trade agreements and expand its "circle of friends" to help enterprises better connect with diverse markets, Wang said, adding that overall exports in 2025 grew 6.1 percent year-on-year, despite a 19.5 percent plunge in shipments to the United States.

    *At the ongoing "two sessions" in Beijing, the strategic importance of domestic demand has been underscored in both the government work report and the draft outline of the 15th Five-Year Plan (2026-2030).

    *Boosting consumption hinges fundamentally on boosting confidence, and China is doubling down on policy support to unleash consumer potential.

    *Beyond young urban consumers, who are the major drivers of new forms of spending, China is also unlocking the consumption potential of rural and elderly population groups.

    *Technological innovation is emerging as a powerful engine for consumption expansion and upgrading.

Getting people to spend more has emerged as a major economic task for China in 2026 and beyond, aligning with the country's broader shift toward a consumption-driven growth model.

At the ongoing "two sessions" in Beijing, the strategic importance of domestic demand has been underscored in both the government work report and the draft outline of the 15th Five-Year Plan (2026-2030).

Amid a complex and challenging international environment, the work report stressed the need to remain committed to expanding domestic demand, pledging a range of measures to stimulate consumption -- a pivotal pillar of domestic demand.

This focus is further reinforced in the draft outline, which states that China aims to "achieve a notable increase in household consumption as a share of gross domestic product, making domestic demand a more prominent economic driver" during the five-year period.

    A boy eats tanghulu, a traditional Chinese snack consisting of sugar-coated haws or fruits, at a tanghulu-themed fair in Jiaozhou, east China's Shandong Province, Feb. 18, 2026. 

     The foundations are already solid. Last year, China's total retail sales of consumer goods exceeded 50 trillion yuan (about 7 trillion U.S. dollars) for the first time, with consumption contributing 52 percent to economic growth, up 5 percentage points from the previous year.

   China's consumer market -- the world's second-largest -- is undergoing a profound shift from scale expansion to quality upgrading, with diverse measures being rolled out to unlock its immense potential.

POLICY EMPOWERMENT

     Boosting consumption hinges fundamentally on boosting confidence, and China is doubling down on policy support to unleash consumer potential.

    The government work report places "building a robust domestic market" first among the major tasks for 2026. It also lists a series of concrete measures, including the allocation of 250 billion yuan in ultra-long special treasury bonds to support consumer goods trade-in programs, the establishment of a 100-billion-yuan fiscal-financial coordination fund to facilitate domestic demand expansion, and the broadening of loan interest subsidies coverage for consumers and service entities.

    These policies build on the remarkable achievements of the trade-in program, which generated combined sales of 3.92 trillion yuan in 2024 and 2025, benefiting consumers on 494 million occasions, according to data from the Ministry of Commerce.

    National legislator Liu Hui, who is a technician at Jiangling Motors Co., Ltd. in east China's Jiangxi Province, has observed the tangible benefits of China's pro-consumption policies in the new energy vehicle (NEV) sector.

    People view new energy vehicles at a shopping mall in Chaoyang District of Beijing, capital of China, Feb. 11, 2026. 

    "Several of my neighbors and relatives last year took advantage of the trade-in subsidies to swap their old cars for NEVs," he said. "And a young technician in our factory saved nearly 20,000 yuan on an NEV purchase by using the trade-in subsidy and the government's interest subsidy on consumer loans."

    "Such policies not only spur investment but also boost consumption," he said.

   Beyond short-term stimuli, China is also focusing on long-term empowerment to transform consumption from a policy-driven target into a natural choice for people.

   According to the government work report, the country will implement an income growth plan for urban and rural residents, rolling out a range of practical measures to boost the earnings of low-income groups, increase property incomes, and refine the remuneration and social security systems.

NEW CONSUMPTION

    As incomes rise and the economy shifts toward quality growth, consumption is expanding from goods to experiences and from function to emotion, fueling the rise of new types such as spending on the debut economy, the pet economy, China-chic products and immersive experiences.

Tourists have fun at sunset at the Harbin Ice-Snow World, the world's largest ice-and-snow theme park, in Harbin, northeast China's Heilongjiang Province, Jan. 18, 2026. 

   This trend is highlighted in the draft outline, which pledges to "unleash the potential of service consumption" and "promote the expansion and upgrading of goods consumption." Additionally, the government work report pledges to upgrade services to the benefit of consumers, develop a number of new, high-profile consumption scenarios, and move faster to nurture new areas of consumption growth.

     Zhang Xiaowen, a national legislator from northeast China's Liaoning Province and chairperson of Dongbei Piano Instruments Co., Ltd., is tapping into this trend by integrating piano manufacturing with music education and cultural tourism.

    "As consumption upgrades and music education becomes more widespread, consumers are demanding higher-quality, more personalized pianos, which requires us to adjust our product mix and develop series tailored to different groups," she said. The company is also building a "piano culture hub" that combines production, education and travel, creating immersive experiences that resonate with young people and cultural consumers.

    Beyond young urban consumers, who are the major drivers of new forms of spending, China is also unlocking the consumption potential of rural and elderly population groups.

     Elderly residents play games at a senior care center in Beijing, capital of China, Feb. 10, 2026. 

    According to the draft outline, efforts will be made to improve the quality and efficiency of county-level commercial activities, strengthen rural express delivery services, enrich the supply of age-friendly products and senior care services, and cultivate leading enterprises and renowned brands in the silver economy.

    Wu Fenggang, a national political advisor and economist at Jiangxi Institute of Socialism, noted that elderly consumers are "shifting from basic needs to quality, smart and service-based products," creating new opportunities for the silver economy in a graying China.

TECH AS A CATALYST

    As the draft outline promises to "lead new supply with new demand and create new demand with new supply," technological innovation is emerging as a powerful engine for consumption expansion and upgrading.

    With "achieving greater self-reliance and strength in science and technology to develop new quality productive forces" highlighted in the development blueprint, technology is now reshaping consumption across multiple sectors.

    According to the document, China will further integrate AI with consumption upgrading. It plans to develop AI-native applications for productivity and companionship, advance next-generation intelligent terminals including AI-powered smartphones, computers and intelligent robots, and expand new scenarios for intelligent service consumption.

    People visit a MINISO LAND store in Guangzhou, south China's Guangdong Province, Oct. 28, 2025. 

    At the "future factory" of Wensli Group Co., Ltd. in east China's tech hub of Hangzhou, Zhejiang Province, rows of smart printing machines stand at the ready. When consumers design personalized silk scarves through the company's AIGC model, plain white fabric can be transformed into an exquisite printed scarf in as little as half an hour.

    "We are exploring the application of AI in production," said Tu Hongyan, a national legislator and chairperson of the company. "Today's consumers, especially young people, crave quality, personalization and emotional value, and we will continue to innovate and optimize supply to meet the needs."

    National legislator and tech expert Zhou Di believes innovation in the supply of high-quality consumption options is the key to enhancing people's intrinsic motivation to spend. He said that the integration of technology with consumption in areas like smart homes, health monitoring and age-friendly products should be promoted further.

A press conference for the fourth session of the 14th National People's Congress (NPC) on economy is held in Beijing, capital of China, March 6, 2026. 

   Senior Chinese officials on Friday elaborated on the country's policy mix for this year, aimed at ensuring resilient economic growth, fostering innovation-driven new engines, and promoting balanced trade to share more market opportunities with the rest of the world.

    China has set a target of 4.5 to 5 percent for gross domestic product growth this year, while pledging to strive for better results in practice, according to a government work report submitted Thursday to the country's top legislature for deliberation.

    Speaking at a press conference on the sidelines of the fourth session of the 14th National People's Congress, Zheng Shanjie, head of the National Development and Reform Commission, noted that the country has the confidence to cope with risks and market volatility and achieve its development goals.

    "More proactive and effective" macro policies will be implemented, he said, emphasizing a policy package that combines fiscal, monetary, investment, employment and consumption measures.

    Stressing a strong fiscal support, Finance Minister Lan Fo'an told the press conference that China's fiscal expenditure, new government bond issuance and central transfers to local authorities will all reach record highs this year.

    Total investment in infrastructure, public services and other key areas, including power grids, computing power, education and health care, is expected to exceed 7 trillion yuan (about 1 trillion U.S. dollars) in 2026.

     Expanding domestic demand remains a top priority this year, with particular focus on building a robust domestic market.

     A total of 250 billion yuan in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs, with another 100 billion yuan for introducing a package of coordinated fiscal and financial policies to support private investment and consumer spending.

    Meanwhile, Pan Gongsheng, governor of the People's Bank of China, said the central bank will flexibly and effectively employ a range of policy instruments, including cuts to required reserve ratios and interest rates, to create a sound monetary environment for development.

    Pan also said the country will respond firmly to external shocks amid a complex global environment, noting that authorities will closely monitor external shocks -- from geopolitical tensions to financial market swings -- and stand ready to contain any potential spillovers.

BALANCED TRADE

    China will promote balanced trade growth this year, stabilizing exports while sharing more opportunities in its domestic market, Minister of Commerce Wang Wentao told the press conference.

    The country is already the world's second-largest import market, and its growing middle-income group means demand still has considerable room to expand.

    At a time when some countries treat markets as a bargaining chip, China is proactively opening its vast market and turning it into opportunities for cooperation, Wang said, pledging more imports of agricultural products, premium consumer goods, advanced equipment and key components.

    China is currently the major trading partner for more than 160 countries and regions. Pan said China has no need or intention to seek competitive edges in foreign trade through the depreciation of its currency, adding that the yuan has strengthened against the U.S. dollar so far this year.

    Senior officials at the press conference also highlighted measures to promote high-standard opening up this year.

    China will expand access to its services market, including pilot programs in the telecom and biotechnology sectors, as well as in wholly foreign-owned hospitals, Wang said. Meanwhile, Wu Qing, chairman of the China Securities Regulatory Commission, said authorities will work to create a more transparent, stable and predictable market environment to better meet global investors' demand for Chinese assets.

NEW ENGINES OF GROWTH

    Alongside demand-side support, China will step up efforts to shore up new industries and develop new quality productive forces this year.

    Nearly 1.3 trillion yuan of fiscal funds will be allocated this year to support science and technology development, an increase of 7.1 percent from the previous year, Lan said.

    Zheng said China will intensify its moves to modernize the industrial system, promoting deeper integration of technological and industrial innovation, and of advanced manufacturing and modern services, in an effort to accelerate upgrading old economic engines and fostering new drivers.

    Artificial intelligence (AI) is expected to play a pivotal role as AI technology is rapidly spreading across various industries in China. The government will continue to advance its "AI Plus" initiative, Zheng said, forecasting that AI-related industries will be valued at more than 10 trillion yuan by the end of the 15th Five-Year Plan period (2026-2030).

    China will also move to boost six emerging pillar industries this year, including integrated circuits, the low-altitude economy and intelligent robots. These sectors, approaching 6 trillion yuan in total value last year, are expected to surpass 10 trillion yuan in 2030, Zheng said.

    High-tech manufacturing contributed 26 percent of China's industrial growth last year, and more high-growth sectors are expected to emerge in the coming years, Zheng said, adding that several trillion-yuan-level markets are poised to take shape in the future to create new engines for high-quality development.

    Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visits national political advisors from the Chinese Peasants and Workers Democratic Party, the Jiusan Society, the sector of medicine and health, and the sector of welfare and social security, who are attending the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), in Beijing, capital of China, March 6, 2026. Xi attended their joint group meeting, and heard their comments and suggestions. 

    Chinese President Xi Jinping on Friday stressed unswervingly following the path of health development with Chinese characteristics to ensure decisive progress in advancing the Healthy China Initiative during the 15th Five-Year Plan period (2026-2030).

Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks while attending a joint group meeting during the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the top political advisory body.

The meeting was attended by national political advisors from the Chinese Peasants and Workers Democratic Party, the Jiusan Society, the sector of medicine and health, and the sector of welfare and social security.

Building a Healthy China by 2035 is a strategic decision made by the CPC Central Committee, and the 15th Five-Year Plan period is critical to achieving this goal, Xi said, emphasizing the need for coordinated planning and accelerated implementation.

Six political advisors spoke at the meeting. After hearing their remarks, Xi delivered a speech. He noted that over the past year, the CPPCC has faithfully fulfilled its duties and responsibilities, offering advice and suggestions on areas including the 15th Five-Year Plan, thus making new contributions to the development of the cause of the Party and the country.

China is a socialist country, and a developing nation with a huge population and relatively large urban-rural and regional gaps, Xi said, adding that it is essential to proceed from China's actual conditions to advance the Healthy China Initiative.

As the situation evolves, certain specific policies and measures related to health work need to be optimized and improved, Xi noted. He stressed the need to keep a clear mind and maintain strategic resolve on fundamental issues.

Xi called for efforts to pool strength and resources and take effective measures to improve the public health system, build a high-quality and efficient healthcare service system, and promote healthy and positive lifestyles.

Xi underscored the importance of improving the framework of policies and institutions for the promotion of health, further deepening reforms, and advancing the application of scientific and technological innovation.

Noting that advancing the Healthy China Initiative requires the joint efforts of the entire society, Xi said the CPPCC should fulfill its roles as a specialized consultative body and put forward practical and effective policy recommendations.

As International Women's Day approaches, Xi, on behalf of the CPC Central Committee, extended festive greetings and best wishes to female lawmakers, political advisors, and staff members at the "two sessions." He also extended greetings to women from all ethnic groups and sectors across the country, including those in the Hong Kong Special Administrative Region, Macao Special Administrative Region, and Taiwan, as well as overseas Chinese women.

Xi was accompanied by Wang Huning, chairman of the CPPCC National Committee, and Cai Qi, director of the General Office of the CPC Central Committee, who are both members of the Standing Committee of the Political Bureau of the CPC Central Committee.

Customers drink local craft beer at a restaurant in Guiyang, the capital city of Southwest China's Guizhou province, Dec 25, 2025. 

    China will scale up efforts to boost consumer spending this year by pairing measures to stimulate the financial capacity of households with continued pro-consumption policies, economists said, as the world's second-largest economy accelerates its transition toward a consumption-driven growth model.

    The comments came after the government work report, submitted on Thursday to the national legislature for deliberation, listed "the expansion of domestic demand as a priority".

    China will adopt measures to stimulate the internal drive for household spending as well as policies to boost consumption, so as to propel further growth in consumption, according to the report.

    The country will formulate and implement an income growth plan and roll out a range of practical measures to boost the earnings of low-income groups, increase residents' property income and refine the social security system.

    "Income is the foundation of consumption expansion," said Luo Zhiheng, chief economist and head of the research institute at Yuekai Securities. "It affects not only current purchasing power but also, through income expectations, influences the marginal propensity to consume."

    The intensity and pace of income growth plan implementation will largely determine the actual effectiveness of consumption stimulus efforts, Luo said.

    Specifically, economists expect policymakers to roll out more robust measures to expand residents' property income by stabilizing the real estate and stock markets.

    Sustainable consumption growth requires that households have multiple income streams in addition to wages, and confidence that their asset values will be preserved, said Su Jian, director of Peking University's National Center for Economic Research.

    To better motivate consumers, according to the report, China will allocate 250 billion yuan ($36.3 billion) in ultra-long-term special treasury bonds to support consumer goods trade-in programs, and establish a special fiscal-financial coordination fund of 100 billion yuan for loan interest subsidies and financing guarantee, among others.

    The country will implement initiatives to upgrade services that benefit consumers, develop a number of new, high-profile consumption scenarios with broad appeal, and move faster to nurture new areas of consumption growth.

    China's consumption-boosting initiatives are undergoing a pivot this year, with policy focus shifting from durable goods such as automobiles and home appliances, to services such as tourism, travel and cultural entertainment, said Wang Qing, chief macroeconomic analyst at Orient Golden Credit Rating.

   As Chinese consumers satisfy their basic material needs, their pursuit of a better quality of life will continue to rise, said Chen Xinwei, general manager of Fiman Biotechnology.

    Medical aesthetics have emerged as a choice that people are willing to invest in — part of a broader shift toward services that enhance well-being, appearance and self-confidence.

    "Consumers are more willing to pay for quality services where raw materials are traceable and technology is advanced," Chen said. "We will persist in developing high-value products that meet these evolving expectations."

    Zhao Chunmei, a deputy to the National People's Congress (NPC), China's top legislature, is particularly focused on how ethnic culture can thrive through rural revitalization.

    Photo shows Zhao Chunmei, Party secretary of Erfeng village, Huilongshan Yao Township, Zixing city, central China's Hunan Province. She is also a deputy to the National People's Congress (NPC), China's top legislature. (Photo/Huang Lei)

    Born in the 1980s, Zhao is a member of the Yao ethnic group and the Party secretary of Erfeng village, Huilongshan Yao Township, Zixing city, central China's Hunan Province. She believes that the culture of the Yao people is the bedrock of Yao identity and the community's foundation for the future.

During the summer vacation of 2025, Zhao and her fellow villagers decided to welcome local youth who were studying elsewhere back home to learn the traditional culture of the Yao ethnic group, including folk songs and the long drum dance.

    Zhao recalled that more than 50 students participated in the seven-day training.

    To create wealth for the village, Zhao has led residents of Erfeng village in hosting long-table banquets, the highest-level ceremonial feast of the Yao people. By transforming folk traditions into experiences and consumable products, they have attracted a steady flow of orders.

    Tourists enjoy a long-table banquet in Erfeng village, Huilongshan Yao Township, Zixing city, central China's Hunan Province. (Photo courtesy of the interviewee)

    In recent years, Zhao has invited inheritors of Yao embroidery to the village, helping train the village's first group of local embroiderers.

In 2026, Zhao plans to integrate Yao embroidery workshops, long-table banquets, and study tour programs to create more local employment opportunities for women in the village, enabling them to earn income without leaving home.

    Chinese Premier Li Qiang delivered the government work report on behalf of the State Council at the opening meeting of the fourth session of the 14th National People's Congress on Thursday. The key points are as follows:

Review of work in 2025

- GDP grew by 5 percent.

- 12.67 million urban jobs created.

- Grain output rose to 715 million metric tons.

- New-energy vehicle output exceeded 16 million units.

Over the past five years:

- GDP crossed successive thresholds, with an average annual growth of 5.4 percent.

- Manufacturing sector has led the world in value added for the past 16 years.

- Per capita disposable income increased at an average annual rate of 5.4 percent.

- A total of over 60 million urban jobs were created.

Main goals and major tasks for the 15th Five-Year Plan period (2026-2030)：

- GDP should keep growing within an appropriate range.

- An annual average increase of at least 7 percent in nationwide R&D spending.

- A total reduction of 17 percent in carbon dioxide emissions per unit of GDP.

- Raising the value added of core digital economy industries to 12.5 percent of GDP.

- Raising the average years of schooling among the working-age population to 11.7.

- Raising life expectancy to 80 years.

- Increase in overall grain production capacity to 725 million metric tons.

- Increase in overall energy production capacity to the equivalent of 5.8 billion metric tons of standard coal.

Overall requirements and policy orientation for economic and social development in 2026

- GDP growth of 4.5-5 percent, while striving for better in practice.

- Create over 12 million new urban jobs.

- CPI increase of around 2 percent.

- Grain output of around 700 million metric tons.

- A reduction of around 3.8 percent in carbon dioxide emissions per unit of GDP.

- The deficit-to-GDP ratio for this year is set at around 4 percent, 230 billion yuan more than last year.

- Expenditure in the general public budget is projected to reach 30 trillion yuan for the first time.

- A total of 1.3 trillion yuan of ultra-long special treasury bonds will be issued.

- 4.4 trillion yuan of local government special-purpose bonds will be issued.

Selected key tasks for 2026

Increasing income

China will formulate and implement an income growth plan for urban and rural residents and roll out a range of practical measures to boost the earnings of low-income groups, increase property income, and refine the remuneration and social security systems.

Consumption

250 billion yuan in ultra-long special treasury bonds will be earmarked for consumer goods trade-in programs.

Investment

A total of 755 billion yuan will be earmarked in this year's central government budget for investment. China will also allocate 800 billion yuan raised from ultra-long special treasury bonds to implement major national strategies and enhance security capacity in key areas.

New quality productive forces

Develop emerging pillar industries including integrated circuits, aviation and aerospace, biomedicine, and the low-altitude economy. Foster future industries such as future energy, quantum technology, embodied intelligence, brain-computer interfaces, and 6G. Further advance and expand the "AI Plus" initiative.

National unified market

Thoroughly address rat-race competition through a full range of measures, including production regulation, standards guidance, price law enforcement, and quality supervision.

Opening-up

China will further expand opening-up trials for value-added telecom services, biotechnology, wholly foreign-owned hospitals, and other fields.

Rural revitalization

Province-wide trials on extending rural land contracts by another 30 years upon the expiration of the current second-round contracts will be conducted across the country.

The fourth national agricultural census will be carried out.

New urbanization strategy

Well-conceived and systematic measures will be taken to grant permanent urban residency to people who move to cities from rural areas. Based on local conditions, we will ease relevant eligibility standards so that more children of rural migrant workers can take high school entrance examinations in their current place of residence.

Employment

China will bolster support for employment through various policies and foster an employment-friendly growth model. It will also implement the initiative for creating more stable, better-quality job opportunities.

Education

China will refine policies on free preschool education and increase the supply of regular senior secondary school places.

Healthcare

Government subsidies for basic medical insurance for rural and non-working urban residents will be raised by 24 yuan per person.

Social security

Minimum basic old-age benefits for rural and non-working urban residents will be raised by 20 yuan per month. China will boost housing support for first-time married couples and those with their first child, and help families with children meet their needs for better housing.

Green development

China will set up a national fund for low-carbon transition and foster new growth drivers such as hydrogen power and green fuels.

Real estate

City-specific policies will be introduced to control the number of new real estate projects, reduce housing inventory, and improve supply. China will explore various avenues for utilizing commodity housing stock.

    China will deepen reform of the institutional framework for promoting foreign investment this year, according to a government work report submitted Thursday to the country's top legislature for deliberation.

    Greater efforts will be made to attract and utilize foreign investment in the 2026-2030 period, according to a draft outline of the 15th Five-Year Plan (2026-2030) also submitted Thursday.

   The country will continuously optimize the foreign investment environment, improve services and support for foreign investors, and foster new strengths in attracting foreign investment, said the draft outline.

    It also pledged to guide foreign investment to flow more to areas such as advanced manufacturing, modern services, new and high technology, as well as energy conservation and environment protection.