National Development and Reform Commission: The supporting conditions and basic trends for China's long-term economic growth have not changed

The Zhitong Finance App learned that on July 30, the National Development and Reform Commission held a briefing on the development and reform situation in the first half of 2026. The conference pointed out that since this year, China's economy has shown a trend of new momentum and improved structure. It has effectively dealt with the uncertainty of the external environment with the stability of its own development, and has shown vigorous vitality and excellent impact resistance in dealing with various risks and challenges. Although the current economic operation is still facing many difficult challenges, it is even more important to see that China's economy has a stable foundation, many advantages, strong resilience and great potential. The long-term positive support conditions and basic trends have not changed. We must have firm confidence, rise to the challenge, make good use of various opportunities and advantages, and promote steady and far-reaching high-quality development.

The conference emphasized effectively expanding domestic demand, promoting the stabilization of investment, collaborating on 109 major projects and “six networks” planning and construction, solidly advancing “dual” construction and “two new” tasks, focusing on developing industries with large investment space and strong willingness of private enterprises to invest, and launch a number of policies and measures to allow private investment to “invest with confidence”, “invest actively” and “participate more”; vigorously and steadily boost consumption and promote the implementation of policies to promote consumption.

The conference also emphasized comprehensively deepening reforms, deepening the construction of a unified national market, creating a fair and orderly market competition environment, systematically promoting the cultivation and opening up of scenarios, deepening the reform of state-owned enterprises, promoting high-quality development of the private economy in accordance with the law, protecting the legitimate rights and interests of private enterprises, and supporting private enterprises to participate in major national projects.

The original text is as follows:

The National Development and Reform Commission held a briefing on the development and reform situation in the first half of the year

On July 30, the National Development and Reform Commission held a briefing on the development and reform situation in the first half of 2026 to carefully study and understand the spirit of General Secretary Xi Jinping's important speeches at the Politburo Standing Committee meeting and the Politburo meeting, thoroughly implement the decisions and arrangements of the Party Central Committee and the State Council on the economic situation in the first half of the year, and the requirements for development and reform work in the second half of the year. Zheng Zhajie, Party Secretary and Director of the National Development and Reform Commission, presided over the meeting and delivered a speech.

The conference pointed out that since this year, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, China's economy has shown a trend of new momentum and improved structure. It has effectively dealt with the uncertainty of the external environment with the stability of its own development, and has shown vigorous vitality and excellent shock resistance in dealing with various risks and challenges. Although the current economic operation is still facing many difficult challenges, it is even more important to see that China's economy has a stable foundation, many advantages, strong resilience and great potential. The long-term positive support conditions and basic trends have not changed. We must have firm confidence, rise to the challenge, make good use of various opportunities and advantages, and promote steady and far-reaching high-quality development.

The conference emphasized that the development and reform system must fully implement the decisions and arrangements of the Party Central Committee and the State Council, adhere to goal orientation and problem orientation, do a good job in development and reform, promote continuous economic development in a new, better and better way, and ensure the completion of the goals and tasks expected throughout the year. The first is to make good efforts to implement the “15th Five-Year Plan”. Macroeconomic policies should make efforts to improve efficiency, increase countercyclical adjustment efforts, give full play to the effectiveness of various inventory policies, plan and introduce pragmatic and effective incremental policies in a timely manner, and strengthen the consistency of macroeconomic policy orientation. The second is to effectively expand domestic demand, promote the stabilization of investment, jointly promote 109 major projects and the “six networks” plan and construction, and solidly push forward “double” construction and “two new” tasks, focusing on growing industries with large investment space and strong willingness of private enterprises to invest, and introduce a number of policies and measures to allow private investment to “invest with confidence”, “invest actively” and “participate more”; vigorously and steadily boost consumption and promote the implementation of policies to promote consumption. The third is to speed up the construction of a modern industrial system, adhere to local conditions and adopt classification policies to cultivate and expand emerging and future industries; thoroughly implement the “East Digital and Western Computing” project, coordinate the layout and orderly construction of computing power facilities; accelerate the construction of a number of AI benchmark applications to accelerate empowerment and accelerate the artificial intelligence law legislation process in key industries such as manufacturing, agriculture, and energy; promote the high-quality and efficient development of the service industry, and promote quality, cost reduction and carbon reduction in key industries. Fourth, comprehensively deepen reforms, further promote the construction of a unified national market, create a fair and orderly market competition environment, systematically promote the cultivation and opening up of scenarios, deepen the reform of state-owned state-owned enterprises, promote high-quality development of the private economy in accordance with the law, protect the legitimate rights and interests of private enterprises, and support private enterprises to participate in major national projects. The fifth is to expand a high level of openness to the outside world, actively attract and utilize foreign investment, improve the level of foreign investment management services, jointly build the “Belt and Road” with high quality, and expand the space for mutually beneficial international economic and trade cooperation. The sixth is to enhance the coordination and linkage of regional development, promote active integration of all regions into the regional economic layout and overall national development agenda; promote comprehensive rural revitalization in an orderly manner, and do a good job of cash-for-work with high standards and high quality. The seventh is to take more measures to strengthen people's livelihood security, do a solid job of stabilizing employment, support flexible employment through multiple channels, coordinate and promote the protection of public services and rights and interests, do a good job of securing supply and price stability for important livelihood products, optimize the allocation of education resources, and enhance the capacity of public pension and childcare services. Eighth is to strengthen safety capabilities in key areas, consolidate the foundation of food security, strengthen the safety and security of energy resources, strengthen energy supply for peak summer and peak winter, and do a solid job in production safety, disaster prevention, mitigation and relief.

The conference called for the development and reform system to unite more closely around the CPC Central Committee with Comrade Xi Jinping at the core, thoroughly study and implement Xi Jinping's ideology of socialism with Chinese characteristics in the new era, deeply understand the decisive significance of “two establishment”, strengthen the “four senses”, firmly establish “four self-confidence”, achieve “two maintenance”, continue to improve political judgment, political understanding, and political execution, consolidate and expand the establishment and implementation of the correct view of political achievements in learning and education, and build a loyal and clean team of development and reform cadres to effectively obey the overall situation, work hard, and use mood and responsibility Act and be honest Self-discipline and practical performance to ensure a good start to the “15th Five-Year Plan”.

Members of the Party Group of the National Development and Reform Commission, Secretary General and Deputy Secretary General, members of various departments, departments, bureaus, and office teams, comrades in charge of the Commission's Discipline Inspection and Monitoring Team, comrades in charge of the National Administration of Food and Material Reserves, the National Energy Administration, and the National Data Administration, and comrades in charge of all units directly under their supervision attended the meeting. Key responsible comrades and relevant responsible comrades from the provinces, autonomous regions, municipalities directly under the Central Government, the Xinjiang Production and Construction Corps, and the planned separate municipal development and reform committees attended the meeting.

This article was selected from the WeChat account of the “National Development and Reform Commission”, Zhitong Finance Editor: Feng Qiuyi.