Amid global economic turbulence, the Political Bureau of the Communist Party of China Central Committee convened to address mounting external pressures, including U.S. trade tensions, while reaffirming plans to stabilize domestic growth through targeted fiscal and monetary policies. Economist Zhu Min emphasized China’s preparedness to act as a global economic anchor, stating: “If China holds steady, the world holds steady.”
Reforms and Globalization Commitment
The meeting underscored China’s dual focus: advancing high-quality domestic reforms while maintaining its role as a global trade partner. Zhu highlighted structural adjustments and opposition to protectionism as critical to countering external risks. “China will not retreat inward,” he noted, positioning the nation as a stabilizing force amid fragmented international cooperation.
Proactive Fiscal and Monetary Safeguards
Authorities outlined steps to bolster liquidity, including interest rate adjustments and bond issuances to support tech sectors. Fiscal policies aim to stabilize employment, with increased unemployment insurance returns for trade-affected businesses. Zhu cited lessons from pandemic-era SME support as a blueprint for current challenges.
Balancing Risks and Consumption Shifts
While addressing local government debt and real estate vulnerabilities, the meeting prioritized boosting service-sector consumption, particularly in healthcare and education. Enhancing middle-income earnings was flagged as key to driving growth, with Zhu noting: “Income gains translate quickly into spending.”
The ‘Four Stabilities’ Framework
Employment, business viability, market confidence, and public expectations formed the meeting’s core agenda. Zhu stressed that these priorities reflect a people-centered approach, blending economic and social stability to underpin long-term development.
