China outlines policy priorities to strengthen economic resilience

Beijing (ANTARA) - Chinese authorities on Friday outlined a series of policy priorities aimed at strengthening economic momentum, expanding domestic demand, and ensuring stable development.

Deputy head of the National Development and Reform Commission, Wang Changlin, stated at a press conference that a coordinated mix of macroeconomic policies would be launched, with a number of contingency measures to be introduced at the appropriate time as needed.

According to Wang, the government will strive to expand effective domestic demand, formulate an action plan for the 2026-2030 period to expand domestic demand, and accelerate the development of major qualifying projects.

China will intensify efforts to promote technological innovation, accelerate the development of new industries, advance the “AI plus” initiative, and develop new forms of smart economy. A number of measures to enhance the capacity of the services sector will also be taken.

The authorities pledged to provide stronger support for stabilising employment and increasing incomes, including policies to secure jobs, improve job quality, and implement income growth plans for urban and rural residents.

Furthermore, the social safety net for vulnerable groups will also be strengthened.

In addition, Wang said, China will strive to ensure the stability of supply and prices of essential goods such as energy, resources, and food; accelerate the construction of a new type of energy system; and promote stable development of the property market.