CGTN: How does China set tone for economic work in 2026?

Economic Agenda for 2026 - China's 2026 economic agenda emphasizes strengthening domestic demand, advancing innovation, and deepening high-level opening up, indicating renewed confidence for global development [1][3] - The annual Central Economic Work Conference serves as a compass for China's economic trajectory, with President Xi Jinping reviewing 2025's performance and outlining priorities for 2026, the first year of the 15th Five-Year Plan [2] Domestic Demand as Growth Engine - Increasing domestic consumption is identified as the main economic priority for 2026, with specific actions planned to boost spending and optimize policies to unlock service consumption potential [4] - In 2025, final consumption expenditure contributed 53.5% to GDP growth, a nine percentage point increase from the previous year, with retail sales of consumer goods exceeding 40 trillion yuan ($5.7 trillion), reflecting a 4.3% year-over-year increase [5][6] Innovation as a Growth Driver - Innovation is set to be a key driver of development, with plans to establish international innovation hubs in key regions and policies aimed at boosting enterprise-led innovation and strengthening intellectual property protection [7] - China ranked in the top 10 of the 2025 Global Innovation Index for the first time, with its high-tech sector projected to grow from 14.3% of GDP in 2023 to nearly 19% by 2026 [8] Opening Up for Global Certainty - The conference reaffirmed China's commitment to expanding institutional and autonomous opening in the services sector, optimizing free trade zones, and advancing the Hainan Free Trade Port [9] - From January to November 2025, China's foreign trade totaled 41.21 trillion yuan, reflecting a 3.6% increase from the previous year, demonstrating resilience despite global challenges [9] Global Perception of China's Economic Policies - A CGTN global survey indicated that 86.7% of respondents believe China's efforts to boost domestic consumption will create significant opportunities for international companies, while 89.1% believe the expansion of opening-up will generate broader development opportunities worldwide [10][11]