Expanding domestic demand a top priority in 2026: Chinese economic official

BEIJING, Dec. 16 (Xinhua) -- Expanding domestic demand will be the top priority of China's economic policy in 2026, according to an official from the Office of the Central Committee for Financial and Economic Affairs.

Policies will be rolled out to boost consumption through both the supply and demand sides, taking structural shifts in the country's consumption patterns into consideration, the official told Xinhua and other media outlets in an interview on the guiding principles of the Central Economic Work Conference that was held last week in Beijing.

Efforts will also be made to stabilize and reverse the decline in investment, with the aim of improving people's livelihoods and strengthening long-term growth momentum, according to the official.

"By coordinating investment and consumption, and by creating synergy between the government and the market, there are ample conditions to achieve sustained growth in domestic demand next year," the official said.

The official said that in 2025, China's major economic indicators are projected to meet expectations and the economy is expected to grow about 5 percent to reach approximately 140 trillion yuan (about 19.83 trillion U.S. dollars), which will keep China among the world's fastest-growing major economies.

Looking ahead, the official said that despite challenges, the prospects for China's economy remain bright.

On the property market, the official noted that there remains ample room for the sector to pursue high-quality growth next year, backed by strong demand from both first-time homebuyers and those seeking upgrades.

Efforts will be made to stabilize the market from both supply and demand sides, actively promote the transformation and development of real estate enterprises, and accelerate the establishment of a new model for property sector development, the official said. ■