China's NDRC Outlines Eight Key Economic Priorities for Second Half of 2026

China’s National Development and Reform Commission (NDRC) held its mid-year work conference on July 30, outlining eight key economic priorities for the second half of 2026. According to statements published by the NDRC and People's Daily, the agency pledged to intensify counter-cyclical policy adjustments, roll out pragmatic incremental measures, and coordinate major infrastructure projects. Key focus areas include encouraging private capital participation, accelerating the legislative process for the national Artificial Intelligence Law, and deepening reforms toward a unified national market.

The NDRC's explicit signals regarding counter-cyclical policy adjustments and upcoming incremental policies provide critical guidance on China's macro policy trajectory. By addressing soft domestic demand and private investment sentiment, economic planners aim to maintain policy stability while nurturing high-growth sectors such as computing power and AI industrial applications.

On July 30, China’s National Development and Reform Commission (NDRC) convened its mid-year development and reform situation conference to review economic performance in the first half of 2026 and set work priorities for the remainder of the year. According to reports published by the NDRC and People's Daily, the conference was chaired by NDRC Chairman Zheng Shanjie. The meeting highlighted eight priority tasks for the second half of the year aimed at achieving annual economic and social development targets. First, macro planners will advance initial work on the 15th Five-Year Plan while enhancing macro policy consistency. The NDRC committed to strengthening counter-cyclical adjustments, maximizing the effectiveness of existing policies, and planning pragmatic incremental policy measures. Second, the agency prioritized expanding domestic demand and stabilizing investment. Economic planners will coordinate 109 major national engineering projects and the planning of 'six networks' infrastructure, alongside pushing forward 'two majors' and 'two news' initiatives. To revive private investment, the NDRC plans to release targeted measures in growth sectors where private firms show strong investment appetite. Third, the NDRC outlined efforts to modernize the industrial system by cultivating emerging and future industries. Key measures include continuing the 'East-to-West Computing' project, systematically expanding computing infrastructure, and building benchmark AI applications across manufacturing, agriculture, and energy. Notably, the NDRC explicitly pledged to accelerate the legislative process for China's Artificial Intelligence Law. Fourth, the agency emphasized deepening structural reforms, advancing a unified national market, systematically cultivating and opening market scenarios, reforming state-owned enterprises, and legally protecting the rights and interests of private enterprises. The remaining priorities focus on high-level opening up and foreign investment management, regional economic coordination and rural revitalization, multi-pronged livelihood safeguards including employment and public services, and reinforcing national security capabilities in food, energy, and supply chains.