China outlines policy priorities to boost economic resilience

 Chinese authorities on Friday outlined a set of policy priorities aimed at strengthening economic momentum, expanding domestic demand and ensuring stable development.

A coordinated mix of macro policies will be rolled out, with a reserve of measures to be introduced in a timely manner as conditions require, Wang Changlin, deputy head of the National Development and Reform Commission, told a press conference.

The government will move to expand effective domestic demand, draft an action plan for 2026-2030 to expand domestic demand and expedite the construction of qualified major projects, according to Wang.

The country will step up efforts to boost technological innovation, accelerate the development of emerging industries, advance the "AI plus" initiative, and foster new forms of smart economy. Measures will also be taken to enhance the capacity of the service sector.

Authorities pledged stronger support to stabilize employment and raise incomes, including policies to secure jobs, improve job quality and implement income growth plans for urban and rural residents. Social safety nets for vulnerable groups will also be reinforced.

In addition, China will work to ensure stable supply and prices of key goods such as energy, resources and food, accelerate the building of a new type of energy system, and promote the stable development of the property market, Wang noted. ■