Economy

Breaking through the situation and planning for the beginning - looking at the current Chinese economy from three dimensions

2026-03-03   

In early spring of 2026, kapok trees in Lingnan will compete to bloom, while wheat seedlings in Jianghuai will be poised to sprout. The National Two Sessions are coming. From the coast of the South China Sea to white mountains and black waters, from the North China Plain to the bank of the Yangtze River, the roar of machines, the warming of consumption, and the explosion of innovation converge into a symphony of spring tide. The Chinese economy demonstrates the "star of stability" in breaking through the "situation", strategizes the "wisdom of victory" in "planning the situation", and practices the "reality of settling down" in the "beginning". This is the first spring of the 15th Five Year Plan, and also the spring that is destined to be marked by history as the "beginning". Breaking through: Demonstrating resilience and determination amidst global turbulence. Looking back at the spring of 2026, the year that has just passed has been an extraordinary year of closure. This year, facing the ever-changing external environment, the Chinese economic giant steadily moved forward in the rapids, demonstrating to the world with a total economic output of over 140 trillion yuan and a growth curve of 5% that resilience is a clear indicator of the Chinese economy. The total retail sales of consumer goods in society have exceeded the 50 trillion yuan mark for the first time; The production and sales of automobiles have both exceeded 34 million units, and the proportion of new energy vehicles sold domestically has exceeded 50%; The effective number of domestic invention patents exceeds 5 million, ranking first in the world; There are a total of 5469 A-share listed companies with a total market value of 12.3 trillion yuan; At the beginning of the new year, multiple departments successively released their annual "answer sheets" - "first time", "new high", "breakthrough" and other high-frequency words. This' answer sheet 'is hard won and precious. The world economic and trade order has been severely damaged, and there are pains in the transformation of old and new domestic driving forces. In such a situation, China's economy has still achieved a 'quantitative leap' and a 'qualitative improvement', fully demonstrating the ability of the Chinese economy to adapt and withstand pressure in an unstable and uncertain environment. ”Director Kang Yi of the National Bureau of Statistics said. McKinsey China Chairman Ni Yili commented that in the face of a complex international environment, the resilience and vitality of the Chinese economy have exceeded everyone's expectations. Wind and rain do not change one's aspirations, and hardships do not change one's path. The path of China's economy breaking through is essentially a process of seeking certainty amidst uncertainty. The more turbulent the waves, the more one maintains composure; The more we face risks and challenges, the more we persist in innovation to break through. Stabilize the steering wheel in the wind and waves - always maintain strategic composure and do your job solidly. Efforts will be made to implement more proactive macro policies, strengthen unconventional countercyclical adjustments, continue to implement measures to stabilize employment, stabilize the economy, and promote high-quality development, solidly promote the "dual" construction, and strengthen the implementation of the "two new" policies. Accumulate momentum in the process of pressure and progress - firmly implement the innovation driven development strategy, increase efforts to tackle key core technologies, practice "real skills" hard, and forge "real kung fu". Innovative achievements are emerging one after another, and research and development applications such as artificial intelligence, biomedicine, and robotics are at the forefront of the world. Breaking through obstacles in the reform campaign - deepening the reform of key areas and key links, advancing the construction of a unified national market, comprehensively rectifying "internal competition", enacting and implementing the Law on the Promotion of Private Economy, and providing point-to-point and practical assistance to solve development problems. Behind the "breakthrough" of the Chinese economy is the tenacious struggle of billions of business entities in the storm. In Shaoxing, Zhejiang, facing the traditional cotton printing market where profit margins are constantly being squeezed, Shaoxing Yongtong Printing Co., Ltd. has vigorously innovated its workshop, transformed into digital printing, and forged new competitive advantages from comparing "who is cheaper" to "who is stronger in design". In Liuzhou, Guangxi, facing the pressure of intensified price wars and shrinking consumer demand in the automotive industry, SAIC GM Wuling has solidified its product competitiveness through technological breakthroughs, and simultaneously promoted the transformation of new energy and globalization processes. Its output value will exceed 100 billion yuan by 2025. Anchoring high-quality development unwaveringly, continuously strengthening innovation driven development, cultivating and strengthening new quality productive forces, and effectively promoting China's economy to move towards new and optimal development in the face of pressure. Effective markets and proactive governments are working together to continuously create a market-oriented, rule of law, and international first-class business environment. A unified, open, competitive, and orderly market system is constantly forming, greatly stimulating the vitality of various business entities. ”Xu Yingjie, a researcher at the Enterprise Research Institute of the Development Research Center of the State Council, said. From precise farming by drones in vast fields to orderly operation by intelligent factory robots; From the consumption potential stimulated by trade in, to the investment and financing boom triggered by technological breakthroughs... These vivid scenes confirm the breakthrough of the Chinese economy. Strategy: Forward looking layout, anchoring development direction, looking at the world, the pace of world economic recovery is still stumbling, and geopolitical games are becoming increasingly complex. How to anchor the direction of China's economy at a new historical starting point? How to accumulate development momentum? From the long-term planning of the 15th Five Year Plan, to the strategic planning of the Central Economic Work Conference, and to the coordinated deployment of various ministries and commissions... the answer has been unfolded in the systematic planning and forward-looking layout. Carrying on the past and opening up the future, we should raise our eyes to the present. The Tenth Five Year Plan proposes to deploy the strategic tasks related to the overall situation of Chinese path to modernization in the next five years, anchor the theme of promoting high-quality development, put the development of new quality productivity in line with local conditions in a more prominent strategic position, and constitute a "fixed star" and "navigator" for China's economy to maintain strategic initiative and achieve stability and long-term development in complex changes. The key to planning lies in the direction. As a key meeting connecting the end of the 14th Five Year Plan and the beginning of the 15th Five Year Plan, the Central Economic Work Conference focuses on eight major tasks such as "adhering to domestic demand leadership and building a strong domestic market", establishing the "overall tone" and "roadmap" for economic work in 2026. Collaborative layout, precise deployment. At the end of the year and the beginning of the year, multiple ministries and commissions such as the National Development and Reform Commission, the Ministry of Finance, the People's Bank of China, and the Ministry of Industry and Information Technology have spoken out intensively and introduced relevant measures to transform the central deployment into operable and implementable "construction drawings" and "task books". Comprehensively expanding domestic demand - the Ministry of Finance has explicitly stated that it will continue the policy of subsidizing the trade in of consumer goods; The People's Bank of China has set up a 500 billion yuan service consumption and pension refinancing loan to encourage and guide financial institutions to innovate financial products; The National Development and Reform Commission has proposed to further clean up unreasonable restrictive measures in the consumption sector, accelerate the cultivation of new growth points in consumption, and form a joint force of "finance+currency+industry" to boost domestic demand. Accelerate the cultivation of new quality productive forces - The Ministry of Science and Technology will accelerate the layout and implementation of major national science and technology projects that are related to national economy, people's livelihood, and national security; The Ministry of Industry and Information Technology will develop emerging pillar industries such as integrated circuits, new displays, new materials, aerospace, and low altitude economy; The National Energy Administration has clarified that by 2026, an additional 200 million kilowatts of wind and solar power will be installed, aiming to seize the commanding heights of future development and shape new competitive advantages. Intensify efforts to ensure and improve people's livelihoods - adhere to the close combination of investing in goods and investing in people. The Medical Insurance Bureau will expand the coverage of maternity insurance and strive for "no out of pocket" childbirth expenses; The Ministry of Civil Affairs optimizes the supply of elderly care services; The Ministry of Housing and Urban Rural Development is promoting the renovation of old urban communities and the construction of "good houses" to ensure that the fruits of development benefit more people's livelihoods. The close integration of technological innovation policies with industrial upgrading and green transformation policies; The coordinated promotion of measures to expand domestic demand, income distribution reform, and social security improvement is aimed at achieving an organic combination of short-term macroeconomic regulation and medium - to long-term institutional construction, enhancing the consistency and effectiveness of macroeconomic policies. By clearly conveying policy signals, stabilize the judgment of business entities on long-term development; By effectively addressing the concerns of enterprises and optimizing the business environment; By ensuring and improving people's livelihoods, we can enhance the overall sense of security and achievement in society. When the government is proactive, the market is efficient, and society is orderly, the resilience of the Chinese economy will be transformed into a powerful and sustainable driving force for growth. ”Liu Xiangdong, Deputy Director of the Research and Information Department of the China International Economic Exchange Center, said. Opening: Accumulate strength through diligent action and practical work. The plan is determined, and the outcome is clear. From the roar of machines at major engineering sites, to the all night lights in technology enterprise laboratories, and to the hurried footsteps of foreign trade enterprises' "going abroad to grab orders", every frame of this spring is a vivid footnote to the "beginning". Recently, the Qingyuan Power Plant Phase II expansion project of National Energy Group Guangdong Company achieved full capacity operation. Thus, the power plant has become the first large-scale clean and efficient coal-fired power plant in China to have four million kilowatt level secondary reheating units and achieve integrated operation. At present, the annual power generation of power plants can reach 20 billion kilowatt hours, which can significantly improve the peak shaving capacity and power supply reliability of the regional power grid, while promoting the optimization of energy structure and industrial revitalization in northern Guangdong. ”Cheng Hui, Secretary of the Party Committee and Chairman of Guoneng Qingyuan Power Generation Co., Ltd., stated. At 23:30 on the eighth day of the Lunar New Year, the central control room of Chuanhua Synthetic Materials Zhapu Base located in Jiaxing, Zhejiang was brightly lit, and He Long, the overall controller of Shunding Workshop, closely watched the DCS system to adjust parameters. On the production line, AI intelligent detection equipment performs micron level defect screening on finished products, waiting for batches of goods to be shipped out. Overseas customers' orders cannot wait. We planned and coordinated the shipping schedule in advance before the New Year. During the Spring Festival, more than 3000 tons of butadiene rubber were shipped out to Mexico and Southeast Asia. ”Ren Xinping, the head of the Customer Service Department at Chuanhua Synthetic Materials Marketing Center, said. The beginning is not only the beginning of production, but also the return of confidence and the reshaping of expectations. A media survey shows that over 80% of respondents have increased confidence in the development of 2026. 87% of the surveyed companies expect their investments to remain stable or expand in 2026, with 32.5% explicitly planning to expand their investments. The "2026 Global Risks Report" released by the World Economic Forum shows that uncertainty is the deterministic risk facing the world in 2026. In sharp contrast, the International Monetary Fund has raised China's economic growth rate by 0.3 percentage points for 2026. Not waiting for the wind to come, but running against the wind. In 2026, the automotive industry will enter a more complex competitive environment, with increasing pressure to shift from incremental markets to stock games. Fluctuations in raw material costs, supply chain resilience challenges, accelerated product iteration speed, and the interweaving of technology and marketing battles will test the survival wisdom and development determination of enterprises. ”SAIC GM Wuling General Manager Lv Juncheng said that the "15th Five Year Plan" emphasizes the importance of high-quality development and technological innovation. Artificial intelligence and digital twin technology are nurturing significant opportunities for industrial transformation, which will redefine the boundaries between research and development and manufacturing, products and services, and is also the path for companies to upgrade and break through. The journey is full of wind and strength, and we set off again with a heavy responsibility. Although there are still storms ahead, the Chinese economy is like a vast ocean. As long as we maintain our strategic focus and stick to the principle of hard work, China's economy will open up a more magnificent Xintiandi of high-quality development and take more solid steps on the journey of Chinese path to modernization. (New Society)

Edit:hechuanning Responsible editor:susuiyue

Source:Economic Information Daily

Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email:lwxsd@liaowanghn.com

Recommended Reading Change it

Links