Xi Jinping Presides Over Consultation with Non-CPC Leaders on H2 Economic Strategy

Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee, chaired a consultative meeting with non-CPC political leaders, business representatives, and independent figures on July 24 in Beijing. According to official reports released by Xinhua, Premier Li Qiang briefed attendees on first-half economic performance and second-half priorities. Xi emphasized maintaining macroeconomic stability while accelerating new growth drivers, calling for a proactive fiscal policy, a moderately loose monetary policy, and timely incremental policy measures to bolster domestic demand and mitigate economic risks.

The mid-year consultative symposium is an established precursor to central economic planning decisions. By signaling stronger counter-cyclical regulation, targeted incremental policy tools, and a combination of active fiscal and moderately loose monetary stances, the central leadership outlines its macro-policy direction for stabilizing growth and laying the groundwork for the 15th Five-Year Plan.

On July 24, the Communist Party of China (CPC) Central Committee held a consultative symposium at Zhongnanhai in Beijing to solicit opinions and suggestions from non-CPC representatives regarding the economic situation and policy considerations for the second half of the year, according to reports published by Xinhua. Xi Jinping, General Secretary of the CPC Central Committee, presided over the session and delivered an address. Senior leaders Li Qiang, Wang Huning, Cai Qi, and Ding Xuexiang—all members of the Standing Committee of the Political Bureau of the CPC Central Committee—also attended. On behalf of the CPC Central Committee, Premier Li Qiang briefed participants on macroeconomic developments during the first half of the year and outlined considerations for second-half economic work. Representatives from eight non-Communist political parties, the All-China Federation of Industry and Commerce, and independent circles spoke at the meeting. Key speakers included Zheng Jianbang, Ding Zhongli, Hao Mingjin, Cai Dafeng, He Wei, Jiang Zuojun, Wu Weihua, Su Hui, Gao Yunlong, and Shao Feng. Participants expressed agreement with the central leadership's assessment of the economic climate and offered recommendations covering innovation chain integration, standards for the intelligent economy, job security for key demographics, basic research, effective investment, and high-level opening up. In his remarks, Xi noted that China's economy demonstrated resilience and structural progress during the first half of the year despite complex internal and external environments. However, he acknowledged that economic operations continue to face operational hurdles that require focused risk management and sustained reform. For the second half of the year, Xi called for implementing a more proactive fiscal policy alongside a moderately loose monetary stance. He stressed making full use of existing measures while designing pragmatic incremental policies to expand counter-cyclical adjustments. Priority focus areas include boosting domestic demand, aligning scientific research with industrial innovation, deepening reforms, expanding opening-up, improving public livelihoods, and systematically mitigating risks in key sectors.