Overview
- Xi Jinping issued an explanation of the Party’s recommendations and confirmed he chaired the drafting group with senior leaders as deputies.
- Xi urged strengthening the domestic economy and internal flows to use domestic stability as a hedge against global uncertainty.
- The recommendations emphasize consolidating manufacturing and pursuing decisive breakthroughs across full technology chains, including chips, basic software, advanced materials and biomanufacturing.
- The proposal signals legal and institutional backing for private firms via the Private Economy Promotion Law and outlines steps to build financial strength, from tech and green finance to advancing Shanghai as an international hub.
- The document remains qualitative, deferring numeric targets to the formal plan expected by the NPC in March 2026, as analysts press for an explicit household‑consumption goal and a possible Xi–Trump APEC meeting is still unconfirmed.