Overview
- The Fourth Plenum is running Oct 20–23 to shape the next Five-Year Plan for 2026–2030, with formal adoption expected next March.
- Fresh data show the slowdown has deepened, with third-quarter growth the weakest in a year and consumer prices down 0.3% last month.
- The property slump persists as new-home prices fell in major cities and real estate investment dropped about 14% over the past year.
- Draft priorities emphasize technological self-reliance, supply-chain risk reduction, and control of strategic resources such as rare earths, after new export curbs drew U.S. rebukes.
- Analysts flag weak household spending and industrial overcapacity, with some exports redirected to Southeast Asia and expectations of measures to bolster social welfare and clean up the property sector.