NDRC to expand China's macroeconomic policy space

During the 15th Five-Year Plan period (2026-30), the National Development and Reform Commission will actively expand macroeconomic policy space, enhancing efficient coordination among key flow elements such as human resources, logistics, capital, and information to effectively address various risks and challenges, Zheng Shanjie, head of the NDRC, said on Friday.

At a news conference held by the Communist Party of China Central Committee, Zheng noted that during the 14th Five-Year Plan period (2021-25), China's GDP surpassed the 100 trillion yuan ($14 trillion) mark in 2020 and continued to climb to new heights. By 2025, the number is expected to reach about 140 trillion yuan, driven by a steady stream of high-quality incremental output and the accumulation of abundant high-quality stock assets.

Looking ahead to the 15th Five-Year Plan period, the NDRC will adhere to the deployment outlined in the Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development, strengthening work coordination, regulating government actions, and preventing inappropriate interventions.

The NDRC will fully leverage market mechanisms, flexibly utilize market-oriented and law-based approaches, promptly intervene in areas where market failures occur, and resolutely curb behaviors such as malicious low-price competition and severe delays in corporate payments, Zheng said.