Overview
- Xi Jinping said growth in 2025 is expected to be around 5%, with output near 140 trillion yuan, according to state media.
- He pledged a more proactive macro policy stance in 2026 focused on lifting household demand and supporting investment.
- Beijing allocated 62.5 billion yuan from special treasury bonds to fund a consumer goods trade‑in program next year.
- The state planner outlined early 2026 investment plans that include two major construction projects backed by about 295 billion yuan in central budget funds.
- Officials acknowledged ongoing strains from soft consumption, deflation and the property crisis, while data showed factory activity returned to expansion in December, and Xi stressed faster advances in AI and chips alongside a renewed vow to pursue Taiwan reunification.