Tracking the Forces Reshaping the Economy
Macro
Tracking the forces shaping energy, capital and industrial change.
Macro ·
A State Council executive meeting on June 29 outlined measures to sustain foreign trade momentum, including increased credit and insurance support, expanded imports of quality goods, and efforts to upgrade service and digital trade. China's goods trade grew 15.3% year-on-year in the first five months, with services trade also steady.
Macro ·
The State Council Executive Meeting approved the 15th Five-Year Plan for National Health on June 29, outlining a full-life-cycle health service system, enhanced coordination among medical care, insurance, and disease control, and robust development of the health industry.
Macro ·
China's State Council has issued the '15th Five-Year Plan for Education Development,' outlining a five-year agenda to improve students' health, scientific, AI, and language literacy, including measures such as ensuring at least 2 hours of daily physical activity and promoting AI education across all school stages.
Macro ·
The State Council issued the Education Development 15th Five-Year Plan, setting the goal of basically completing a high-quality education system by 2030, with tasks including morality education, sci-tech talent support, equity, teacher development, and international openness.
Macro ·
On the evening of June 29, the concert 'People First' was held at the Great Hall of the People in Beijing to celebrate the 105th anniversary of the founding of the Communist Party of China. Xi Jinping, Li Qiang, and other Party and state leaders watched the performance with about 3,000 audience members. The concert featured five movements of symphonic and choral works, concluding with the entire hall singing 'Without the Communist Party, There Would Be No New China.'
Macro ·
The State Council executive meeting, chaired by Premier Li Qiang on June 29, 2026, approved the 15th Five-Year Carbon Peak Action Plan and the National Health Plan. The meeting also discussed artificial intelligence development, foreign trade, and building a strong trade nation.
Macro ·
China's central general public budget revenue fell 6.5% year-on-year to 9.3973 trillion yuan in 2025, weighed by lower commodity prices and imports, leaving the central fiscal deficit at 4.86 trillion yuan, in line with the budget target.
Macro ·
President Xi Jinping met with Belarusian President Alexander Lukashenko at the Diaoyutai State Guesthouse in Beijing on June 29. The two leaders agreed to strengthen strategic communication, advance Belt and Road cooperation, and maintain coordination within multilateral frameworks.
Macro ·
The Hunan Provincial Communications Administration held a Q2 2026 industry meeting, reporting on the progress of the 'Six Key Tasks', and setting requirements for school season market order, flood emergency communications, safety production, network and data security, fraud prevention, and infrastructure construction.
Macro ·
The Guizhou Provincial Communications Administration reported that in the first half of the year, both the satisfaction rate and complaint withdrawal rate for anti-fraud petition handling reached 100%. During the same period, over 583,000 high-risk phone numbers were disposed of, and more than 380 million scam calls and messages were intercepted.
Macro ·
Finance Minister Lan Fo'an reported to the NPC Standing Committee that 2025 central general public budget revenue was 9,397.253 billion yuan, expenditure was 14,485.727 billion yuan, and the deficit matched the budget at 4,860 billion yuan. Tax revenue dipped 0.5%, while non-tax revenue fell 66.5%. Ultra-long special government bonds totaled 1.3 trillion yuan, new special-purpose bonds reached 4.4 trillion yuan, and year-end outstanding central government debt stood at 41,231.768 billion yuan.
Macro ·
The Ministry of Finance's Internal Control Committee met on June 22, 2026, to review progress and set future priorities. Minister Lan Fo'an stressed strengthening checks and balances, improving rules, enforcing execution, and advancing system-wide construction.