This week, China’s top economic and fiscal authorities delivered a mid-year report to the 14th National People’s Congress Standing Committee, outlining a proactive plan to keep growth on track for the remainder of 2025.
Steady progress so far
The National Development and Reform Commission (NDRC), led by Zheng Shanjie, highlighted generally positive results across key indicators—growth, employment, consumption, trade, household income, and green development. Six pillars of achievement include:
- Proactive macro policies
- Boosted domestic demand
- Industrial upgrading
- Deeper reform and opening-up
- Enhanced regional coordination and urban-rural integration
- Stronger livelihood protection
Fiscal policy turns up the heat
Finance Minister Lan Fo’an reported stable fiscal operations and a "more proactive and sustained" approach. Key fiscal priorities for H2 include:
- Supporting employment and market stability
- Accelerating new growth drivers
- Safeguarding livelihoods
- Preventing risks in critical areas
- Strengthening carbon emission controls
- Enhancing fiscal governance
Looking ahead: The next Five-Year Plan
A special report on drafting the 15th Five-Year Plan (2026–2030) stressed scientific innovation, new quality productive forces, expanded domestic demand, and people-centered growth. Committees put forward legislative recommendations for national security, economic legislation, technology, environment, urban-rural development, and social services.
With global uncertainty rising, the government’s mid-year roadmap combines policy continuity with flexibility—aimed at stabilizing markets, guiding inflation, and meeting annual targets while driving green, inclusive growth.
Reference(s):
China reports steady economy, unveils H2 measures to sustain growth
cgtn.com
