China's Economic Agenda for 2026 Focuses on Domestic Growth and Innovation

The Central Economic Work Conference in Beijing has set the tone for China's economic plan in 2026, underlining its commitment to bolstering domestic demand, innovation, and high-level opening. President Xi Jinping highlighted the priorities for the upcoming year, focusing on stability and progress, marking the start of the 15th Five-Year Plan.

Central to this agenda is domestic consumption, which policymakers aim to boost through strategic spending actions and easing restrictions. Kristalina Georgieva supported this focus, pointing to its role in economic resilience.

Innovation is another central pillar, with plans to establish hubs in key regions and enhance service sector capabilities. This focus has already propelled China into the top 10 of the Global Innovation Index, with projections of high-tech sector growth.

The conference also reaffirmed China's strategic advantage in opening up, planning to expand free trade zones and enhance the Hainan Free Trade Port. This approach signals stability and opportunities for the global economy.