China to maintain stable economic growth in 2026

China will strive to keep economic growth stable next year while maintaining overall stability in employment, prices and the balance of payments, a senior official said on Saturday.

Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said economic policy in 2026 will aim to keep income growth for residents broadly in line with overall economic expansion.

He made the remarks at the China Economic Annual Conference hosted by the China Center for International Economic Exchanges in Beijing.

The economic work for 2026 will continue to follow a "steady progress" approach, with a focus on improving quality and efficiency, Han said. Authorities will step up countercyclical and cross-cyclical adjustments to strengthen the effectiveness of macro governance.

Fiscal policy will remain "more proactive", Han said. The government will maintain a necessary fiscal deficit, overall debt level and total spending. Policymakers will fully utilize available policy space to stabilize near-term growth while preserving flexibility to respond to future risks.

Monetary policy will stay moderately accommodative. The focus will be on improving the transmission of monetary policy and increasing support for expanding domestic demand, Han said. The renminbi exchange rate will be kept basically stable at a reasonable and balanced level.

Han also called for stronger coordination across policy fronts. Fiscal and financial policies will be better aligned, while reform measures will be implemented in step with macro policies to ensure consistency in policy direction and impact.

"All policy measures should move in the same direction and form a combined force," Han said.

The annual conference brought together policymakers, economists and business leaders to discuss China's economic performance for 2025 and outlook for 2026.