Xi Jinping: Key Tasks for Current Economic Work

In 2026, there are numerous priorities for economic work; we must focus on the key areas and ensure that overarching strategies drive progress across the board.
(1) Uphold domestic demand as the main driver and build a robust domestic market. Coordinate efforts to boost consumption and expand investment, and fully leverage China’s ultra-large-scale market advantages. Deeply implement special initiatives to stimulate consumption, formulate and carry out plans to increase incomes of both urban and rural residents, and continue to raise basic old-age pensions for urban and rural residents. Adapt to changes in the consumption structure by expanding the supply of high-quality goods and services. Optimize the implementation of the “Two New” policies and grant local authorities greater autonomy. Remove unreasonable restrictions in the consumption sector to unlock the potential of service consumption in areas such as culture and tourism, sports events, catering, and health and wellness. Implement the system of paid staggered leave for employees. Improve the environment for inbound consumption and build the “Shop in China” brand.
We must focus on improving people’s livelihoods and bolstering long-term momentum, while working to halt the decline and stabilize investment. We will appropriately increase the scale of central budgetary investment, optimize the implementation of “two major” projects, and raise the standards for central government investment subsidies. We will also refine the management of the use of local government special bonds, increasing the proportion allocated to project construction and earmarking such funds separately; continue to leverage the role of new policy-based financial instruments to effectively stimulate growth in all types of investment; explore the development of a comprehensive government investment plan that captures all relevant expenditures; and increase the share of investment directed toward improving people’s livelihoods. We will adhere to the principle of quality-driven urban development, establish sustainable financing and investment models, and advance urban renewal with high quality. Finally, we will implement policies and measures to promote private investment and effectively invigorate private-sector investment.
(2) Uphold innovation-driven development and accelerate the cultivation and expansion of new growth drivers. Use scientific and technological innovation to lead industrial upgrading and continuously foster new productive forces. Formulate an integrated plan for advancing the development of education, science and technology, and talent. Increase long-term, stable support for basic research, strengthen independent assurance of fundamental scientific and technological infrastructure and strategic positioning in cutting-edge fields, and strive to produce more original breakthroughs. Build international centers for scientific and technological innovation in Beijing (the Beijing–Tianjin–Hebei region), Shanghai (the Yangtze River Delta), and the Guangdong–Hong Kong–Macao Greater Bay Area, and establish world-class hubs for technological innovation. Reinforce the primary role of enterprises as the main innovators, support the wider demonstration and application of new technologies, new products, and new use cases, enhance the development of pilot-scale testing and validation platforms, improve the intellectual property protection system in emerging fields, and expedite the commercialization of scientific and technological achievements. Develop an action plan to expand capacity and improve quality in the service sector. Implement a new round of initiatives for high-quality development of key industrial chains, promote the transformation and upgrading of traditional industries, cultivate emerging pillar industries such as integrated circuits, aerospace, and biopharmaceuticals, and foster the development of future-oriented sectors like next-generation energy and embodied intelligence. Deepen and broaden the “AI Plus” initiative and improve AI governance. Innovate financial services for science and technology, and strengthen leading venture capital institutions and technology-driven champion enterprises.
(3) Uphold reform-driven攻坚 and enhance the momentum and vitality of high-quality development. Formulate regulations on the development of a unified national market, issue a list of encouraged and prohibited activities for local governments in attracting investment, and comprehensively employ measures such as capacity regulation, standard-setting guidance, price enforcement, quality oversight, antitrust enforcement, and anti-unfair competition to thoroughly address “involutionary” competition and foster a sound market environment. Actively promote the revitalization and efficient utilization of idle and underperforming existing assets. Develop and implement a plan to further deepen state-owned asset and state-owned enterprise reform, refine supporting laws and policies for the Law on the Promotion of the Private Economy, and encourage the specialized, refined, distinctive, and innovative development of small and medium-sized enterprises. Vigorously promote the entrepreneurial spirit and foster the healthy growth of the younger generation of entrepreneurs. Expedite the clearance of outstanding payments owed to enterprises. Advance win-win development among platform enterprises, operators on platforms, and workers. Expand pilot programs for market-based reforms of production factors, deepen power-sector reform, steadily advance price reforms for public utilities such as water supply, gas supply, and heat supply, and promote sustainable operations. Deepen zero-based budgeting reform and increase the proportion of state capital returns collected. Optimize the structure of fiscal transfer payments and improve the local tax system. Regulate the competitive order among commercial banks and further reduce the number of small and medium-sized financial institutions while enhancing their quality. Continuously deepen comprehensive capital-market reforms focused on investment and financing, and raise the share of direct financing and equity financing.
(4) Uphold opening-up to the outside world and promote win-win cooperation across multiple sectors. As the international economic and trade landscape is being reshaped, we must use openness to enhance cooperation and ensure smooth dual circulation—both domestic and international. We will steadily advance institutional opening-up, orderly expand autonomous market access in the services sector, optimize the layout and scope of free trade pilot zones, elevate their capacity to drive development through innovation, and make solid progress in building the Hainan Free Trade Port. We will promote the integrated development of trade and investment as well as the integration of domestic and foreign trade, and scale up and upgrade the cross-border e-commerce-plus-overseas-warehouse model. We will encourage and support service exports and vigorously develop digital and green trade. We will deepen reforms of the systems and mechanisms for promoting foreign investment, facilitate reinvestment by foreign investors within China, and expand localized production. We will guide the rational and orderly cross-border deployment of industrial and supply chains. We will improve the comprehensive overseas service system. We will seize cooperation opportunities arising from the modernization processes of Global South countries and promote high-quality joint efforts under the Belt and Road Initiative. We will work to conclude more regional and bilateral trade and investment agreements and implement open measures such as zero-tariff treatment for African countries with which China has diplomatic relations. We will systematically review and standardize various development zones, industrial parks, and trade fairs and forums.
(5) Uphold coordinated development and promote urban–rural integration and regional synergy. Coordinately advance urbanization with county towns as key platforms and the all-round revitalization of rural areas; optimize the layout of county-level infrastructure and the allocation of public resources; appropriately address shortcomings in modern living conditions in rural areas; foster and expand distinctive rural industries; and drive high-quality economic development at the county level. Strictly safeguard the red line for arable land, enhance soil quality, maintain unwavering focus on grain production, and coordinate policies on production, procurement and storage, and imports to keep prices of grain and other important agricultural products at reasonable levels, thereby ensuring steady income growth for farmers. Continuously consolidate and expand the achievements made in poverty alleviation, integrate routine assistance into the overall implementation of the rural revitalization strategy, and firmly uphold the bottom line of preventing large-scale relapse into or onset of poverty.
All regions must accurately define their roles in the overall national development landscape, strengthen their primary functional orientations, and leverage their comparative advantages. We will intensify tough reform efforts, enhance policy support and factor guarantees, and provide robust backing for major economic provinces to assume greater responsibilities. We will support the Beijing–Tianjin–Hebei region, the Yangtze River Delta, and the Guangdong–Hong Kong–Macau Greater Bay Area in building world-class city clusters and continuously enhancing their overall competitiveness. We will advance the construction of the Xiong’an New Area to high standards and with high quality. We will elevate the development level of the Chengdu–Chongqing Twin-City Economic Circle. We will accelerate the development of the Mid-Yangtze River City Cluster and other key urban agglomerations. We will strengthen coordination and synergy among key urban agglomerations, improve mechanisms for integrated planning, industrial collaboration, and benefit-sharing, implement the National Industrial Relocation and Development Enhancement Project, and deepen cooperation across administrative boundaries. We will strengthen comprehensive planning for major bays and promote high-quality development of the marine economy.
(6) Uphold the “dual carbon” goals as the guiding principle and promote a comprehensive green transition. Coordinate efforts to reduce carbon emissions, curb pollution, expand green coverage, and foster economic growth, thereby strengthening the momentum for green development. Deeply advance energy-saving and carbon-reduction upgrades in key industries, and steadily bring coal and oil consumption to peak levels. Formulate a master plan for building a powerful energy nation, accelerate the development of a new energy system, and ensure that the majority of new electricity demand is met by renewable energy generation. Build smart grids and microgrids, expand the application of green electricity, and develop a number of zero-carbon industrial parks and zero-carbon factories. Strengthen the development of the national carbon emissions trading market. Study the establishment of a national low-carbon transformation fund and cultivate new growth drivers such as hydrogen energy and green fuels. Implement a comprehensive action plan for the integrated management of solid waste and enhance the recycling and reuse of secondary resources. Wage tough battles to protect blue skies, clear waters, and clean soil, and strengthen the control of emerging pollutants. Solidly carry out the critical campaign to implement the “Three North” Project, intensify the governance of key lakes, and integrate and optimize nature reserves. Strengthen the construction of the meteorological monitoring, forecasting, and early-warning system, expedite the filling of infrastructure gaps in flood control, drainage, and disaster-resilience in northern regions, and enhance our capacity to respond to extreme weather events.
(7) Uphold the paramount importance of people’s wellbeing and strive to deliver more concrete benefits to the general public. Strengthen the policy orientation of prioritizing employment, implement initiatives to stabilize existing jobs, expand employment opportunities, and improve job quality, with a particular focus on securing employment for key groups such as college graduates and rural migrant workers. Enhance support and guidance for entrepreneurship, and carry out vocational skills enhancement training. Encourage and support individuals in flexible employment and those in new forms of employment to participate in employee social insurance. In response to changes in the school-age population structure, advance adjustments to the allocation and structure of educational resources, increase the supply of regular high school places, and expand enrollment in high-quality undergraduate programs at universities. Optimize centralized drug procurement, deepen reforms of medical insurance payment methods, refine policies on retaining and utilizing surplus funds, and strengthen operational support for county- and district-level as well as primary-level medical institutions. Implement projects to expand and upgrade rehabilitation and nursing services, and introduce a long-term care insurance system. Intensify care and assistance for vulnerable groups, including elderly individuals living alone and persons with disabilities or dementia. Roll out supportive policies such as child-rearing subsidies, promote a positive attitude toward marriage and childbearing, and work to maintain the size of the newborn population. Solidly carry out work related to workplace safety, disaster prevention, mitigation, and relief, and food and drug safety. Strengthen social psychological counseling and guidance, and advance the identification and resolution of conflicts at the community level.
(8) Uphold the bottom line and proactively yet prudently defuse risks in key areas. Strengthen policy coordination between risk prevention and development promotion to further enhance resilience. Focus on stabilizing the real estate market by adopting city-specific policies to cap new supply, reduce inventory, and improve supply quality, while encouraging the acquisition of existing commercial housing for use primarily as affordable housing. Deepen reform of the housing provident fund system and systematically advance the development of “good-quality housing.” Further leverage the whitelist mechanism for ensuring timely delivery of pre-sold homes, support the reasonable financing needs of real estate enterprises, and guard against the risk of debt defaults. Accelerate the establishment of a new model for real estate development. Actively and orderly defuse local government debt risks, urging all localities to take proactive measures to reduce debt. Increase financial and fiscal support, refine debt restructuring and refinancing mechanisms, and adopt a multi-pronged approach to mitigate operational debt risks associated with local government financing platforms. Optimize debt-monitoring and performance-assessment indicators and establish a unified, long-term mechanism for government debt management. Prudently advance the resolution of risks at small and medium-sized local financial institutions, and bolster resources and tools for risk处置.