China targets hi-tech industries, domestic demand in 2026 with new policy package

Chinese authorities have signalled a new wave of measures to bolster domestic demand and hi-tech industries in the coming year, as Beijing seeks to rebalance growth and shore up momentum during its next five-year plan.On Tuesday, China’s top economic planner announced initiatives to boost consumption and technology investments, while the finance ministry unveiled programmes offering financial support to individuals and small businesses, following mixed economic data for 2025 released the day before.Officials were now drafting an implementation plan to expand domestic demand from 2026 to 2030, the National Development and Reform Commission (NDRC) said at its press conference.A series of major projects in hi-tech industries would also be launched over the coming five years, reinforcing the country’s prowess in advanced manufacturing, which now accounts for more than 17 per cent of the added value of large-scale industries, according to officials.“We believe that consumption and investment, technology and industry, and urban and rural development will all unleash significant development potential,” said Zhou Chen, head of the NDRC’s department of national economy, about the coming year.New energy, Aerospace, biomanufacturing and artificial intelligence are among the growth drivers poised for take-off, he added.