2026Two national conferencesIt's about timeHuman securityThe seven main points of concern are the direction of real estate policy, the consideration of laws and the main lines of investment。
In 2026, two national meetings were held. As the year when the “fifty-fifty-five” plan began, goal-setting and policy alignment in 2026 were particularly critical and received considerable attention。
The main expectations for economic and social development, from GDP growth, cpi growth to deficit rates, employment, and so forth, from macro-regulatory policies to fiscal and monetary policy packages, and from the wind of the industrial track to a steady growth-for-reform series, will be revealed in this year’s government report。
To that end, the media think tank compiled important points for the two sessions of the year。
01
Hot one: fifteen five
In 2035, our country will essentially modernize socialism, and the “fifty-five” period will be a crucial stage in the beginning. The “fifty-five” plan proposes the deployment of strategic tasks for the next five years that concern the whole of china's modernity, anchoring the theme of promoting high-quality development and placing the development of new quality productivity in a more strategic position, which constitutes a strategic initiative of the chinese economy in complex transformations and a steady “sets” and “navigator”。
In 2026, as the year when the “fifty-fifty-five” began, the national people's congress will review the draft 15-year plan outline for national economic and social development, which will reveal the logic and direction of china's future development。
In this regard, the director of the guangcheng institute of industrial research stated that the biggest highlight of this year's two sessions was the discussion and presentation of the “fifty-fifty-five” plan outline, and that it was essential to set strategic objectives in the first five years of 2035, when the goal of essentially modernizing socialism was achieved. The “fifty-five” period was a crucial five-year period, during which discussions would focus on how to take relevant initiatives to achieve high-quality economic development and scientific and technological progress in china。
Compared to the “1455” period, the domestic and external situation facing the country during the “1555” period has become more serious and complex, placing greater demands on the integrity of the industrial system, the resilience of the industrial chain and the level of safety, and the capacity for industrial innovation. Towards the “155,” how traditional industries are continually transformed and upgraded, how emerging industries are clustered, and how industries are cutting edge in the future, policy thinking will become clearer during the two sessions。
02
Hotspot ii: economic development goals
In 2025, china's economy moved forward towards a new and promising economy, with GDP growing by 5 per cent, meeting the target set at the beginning of the year. How are economic development goals set in 2026? In particular, the setting of indicators such as GDP growth, cpi growth, fiscal deficits, etc. Are of great concern. The setting of the target as an inter-zone value (e. G. 4. 5-5 per cent) was considered both positive and pragmatic。
For example, the chief economist of china’s milky way securities, zhang jun, analyses that, in the context of local meetings held in the preceding period and the learning-based education on good political performance that followed the festival, the goal of the national government’s work in 2026 will be more realistic, with GDP growth at a rate of 4. 5-5% or adjusted, and efforts to achieve better results in practice。
In his view, the “155” and “165” periods represent a crucial stage in the successful achievement of our 2035 vision of a per capita GDP at the level of a medium-developed country and a doubling thereof. The pattern of economic performance shows that the long-term rate of economic growth tends to be characterized by “creasing”, and it is reasonable to maintain a faster rate of growth in 2026, the year when the “155” began. At the same time, according to annual GDP growth rates in 2023-2025, there is a better built-in basis for achieving about 5 per cent growth by 2026。
03
Hot three: macro-regulation policy
The central economic work conference, held at the end of 2025, set the tone for this year's macro-policy — a more active one — with an emphasis on “suspendant progress and efficiency gains” in the policy orientation, which is also expected to be one of the major themes of the two national conferences this year。
Zhang zhang, president of the standing committee of the national political consultative council and the chinese association of corporate financial management, stated that this year macroeconomic policy needs to balance “extension” with “precision”. Fiscal policy activates domestic demand with structural instruments, monetary policy reduces financing costs by marketable means, and investment strategies build strong foundations for development through “goods” “persons”. New quality productivity, rising consumption and regionally coordinated development will be central drivers of economic growth and drive china's economy further towards high-quality development。
“this year's fiscal spending is structurally focused on `investment in people' and indirectly promotes consumption by increasing spending on human security. Monetary policy continues the general idea of a combination of moderate easing, counter-cyclicality and cross-cyclical adjustment, and it is expected that this year's interest rate reduction will be roughly the same as in 2025. It is hoped that there will be greater synergy in fiscal and monetary policy to boost domestic demand.” zhang yi, chief economist for financial street securities。
04
Hotspot 4: "red pack"
How can there be a steady increase in investment in priority areas such as education, health care, old age, parenting, housing, etc. To enhance people's sense of access, well-being and security? It is expected that more “red bags” will be distributed this year in both parts of the country。
From the clear orientation of the central economic work conference, which “maintenance of people's lives”, to the local and intensely released human life policy signals, the national assembly in 2026 will continue to focus on the dire expectations of the population in order to be precise in its efforts to fill the gap between people's lives and their safety nets。
Employment, which is a source of livelihood, is expected to be a primary concern for the livelihood of the two communities this year。
At present, the number of graduates of higher education institutions continues to be high, with new forms of employment flourishing, and overall employment pressures coexisting with structures. For the first time, the central economic work conference systematically proposed “the implementation of stabilization and expansion actions”。
In addition, policy signals have been released earlier: guangdong proposed more than 1. 1 million new jobs in towns and cities by 2026; hubei and guizhou, among others, have made it clear that they will continue to increase the level of security of services for new employment groups, such as sellers and bus drivers。
The “old and old” guarantee, which is directly related to the well-being of thousands of families, is expected to be the focus of discussions in the area of livelihood for this year。
Jiang zheng, vice-president of the school of economics and business administration of the beijing teacher training university, stated that the combination of child-care benefits and old-age support policies would result in a two-way reduction of pressure on families, a real reduction in the burden of rigid expenditure on old age and child-rearing for families, and the establishment of a life-cycle protection line for families。
The upgrading of health care coverage and the introduction of social security standards are also important directions for the deployment of the two communities this year。
Currently, the problems of unequal distribution of health resources between urban and rural areas, weak capacity for primary health care and heavy burden of health care for some groups remain to be addressed, and many initiatives such as the construction of health-care links, the sub-doctors, and the extension of health-care facilities have continued。
The director of the china institute for reform and development (hainan) pointed out that the issue of overburdening individuals with basic health insurance in urban and rural areas should be given high priority, and that financial resources should be increased in order to supplement the health-care system in rural areas。
05
Hot five: new references to real estate
One head is linked to the other, the other to the other, and real estate is the focus of attention twice a year. Looking back at 2025, the national real estate market as a whole continued to adjust, showing a “price-for-price” feature, and the market as a whole was still in the process of “sliding back”. The year 2026 marks the beginning of the “fifty-fifty-fifty” and the crucial year for a stable city。
As of february this year, the 31 provinces and municipalities of the country had been closed, with the deployment of real estate in priority tasks, and most of the provinces and municipalities clearly “stabilizing the real estate market” and describing the overall tone of the central economic work conference at the end of 2025, focusing mainly on the promotion of urban renewal, the construction of “good houses” and the deployment of real estate in 2026. New references have emerged in some provinces and municipalities to provide some insight into the direction of the follow-up national two-level focus on real estate work and policy, by combing the main points of deployment of real estate in the provinces and municipalities。
Ro zhixin, chief economist and director of the institute, stated that the real estate policy proposal adopted an ultra-conventional, systematic policy mix to promote a “stable fall” in the real estate market as soon as possible. For example, a “real estate stabilization fund” has been set up at the central level, including through an increase in public debt; high-quality leading housing enterprises in the industry have been actively encouraged and supported, such as through merger and purchase restructuring, to integrate housing projects and assets that have experienced liquidity difficulties or have been put into business difficulties; and financial support to local governments has been stepped up to regulate land supply at its root。
He also suggested further optimization of the restrictive policies of the core cities: “to unleash the suppressed real demand, to use its market wind and to boost national market confidence”
In addition, the institute expects that new urban renewal mechanisms will be further accelerated this year and that accompanying financial, fiscal, land and other support policies will be expected to gradually subside, thereby improving the efficiency of urban renewal and improving the integration of urban renewal and investment and consumption。
06
Hotspot 6: consideration of draft legislation
The legislative agenda is the “demonstration” of the two national conferences, and this year we will be looking at the drafts of a number of laws, such as the code on the ecological environment, the act on the promotion of national solidarity and the national development plan。
The code of eco-environment will be followed by the civil code, the second law of china, named after the “code of laws”, which incorporates the concept of green development into the practice of the rule of law through systematic integration and elaboration of the existing legal framework governing the ecological environment。
At the same time, consideration of the draft law on the advancement of national unity and the draft law on national development planning is aimed at shaping the awareness of the chinese national community, as well as at ensuring that the grand blueprint is “one after another” and at pointing to the modernization and stability of the system of governance of the country。
The representative's deliberations on the draft law were in itself a living practice of building consensus and drawing the greatest conglomerates. A number of important legal cases have entered the review process, not only because of institutional improvements in specific areas, but also because of the dynamic chinese-style democracy。
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Hot 7: investing in the main line
During the first week of the opening of the year, the a share opened the door, and in four trading days the concussion rose and strangulated. This year, as the year of the 15th, the policy signals released by the two national congresses have been critical in guiding the a stock layout。
The chief economist of the golden eagle foundation, general manager of the equity research department and fund manager yang just concluded: “in the light of the medium- and long-term industrial trends proposed in the “155” plan, we believe that the main lines of investment include, first, new qualitative productivity and technological self-reliance, accelerated development of the artificial intelligence chain up and down, the expected increase in the domesticization of semiconductor equipment and the entry of human robots into the year of mass production; second, the deepening of the green transition, `155' is the peak period of the carbon war, with new types of energy storage and grid upgrades leading to a large-scale explosion; third, integrated development and security, non-ferrous metals with strategic resource reserves under the 100-year variant, as well as military engineering with high-end sea advantages and greater restoration potential, with better counter-cyclical defensive attributes; and fourth, the global co-embranding, associated areas of equipment manufacturing advantage, such as universal machinery and wind power reserves, are expected to move further globally.”
The luboma foundation's chief market strategist, chu hsien tsing, analysed that the main line of investment for the “technology+ cycle” in 2026 remained clear. First, the demand for ai continues to rise, and innovations at the level of ai application are emerging, and the year 2026, or the year of the outbreak of ai application, is expected to usher in an upward cycle of valuation. Second, geotechnical games will continue to limit the supply of strategic resources, such as non-ferrous metals, and the supply of, and demand for, improved non-ferrous metals, chemicals, steel, building materials, etc., are of concern。
