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China's Fourth-Quarter Growth Plan
China's NDRC and MIIT unveil domestic demand and smart manufacturing policies to boost growth amid private investment decline.
In brief
China's NDRC and MIIT unveil domestic demand and smart manufacturing policies to boost growth amid private investment decline. China's government plans to issue a domestic demand strategy and smart manufacturing policy to address weak private investment and stimulate economic growth in Q4. Originally reported by BigGo…
Policy Announcements
China's National Development and Reform Commission and Ministry of Industry and Information Technology disclosed fourth-quarter growth-stabilization policies on October 20.
Domestic Demand Plan
The NDRC is drafting a Domestic Demand Expansion Strategy Implementation Plan (2026-2030) to boost consumption and effective investment.
Smart Manufacturing Policy
The MIIT is drafting policies for next-generation smart manufacturing to integrate artificial intelligence across the manufacturing chain.
Economic Data
Domestic demand contributed 74.8% to economic growth in the first three quarters, with private investment falling 10.4% year on year.
NDRC's Focus Areas
The NDRC will prioritize improving people's livelihoods, expanding effective investment, and enhancing institutional mechanisms for domestic demand.
Wang Weiming's Smart Manufacturing
Wang Weiming, MIIT chief engineer, emphasized deep AI integration across the manufacturing chain to boost efficiency and cut costs.
China Jushi Case Study
China Jushi, the world's largest fiberglass producer, has built 33 intelligent investment projects and 18 AI application scenarios using digital technology.
Private Investment Challenges
Private investment fell 10.4% year on year in January-September, with the decline widening by 0.3 percentage point from January-August.
NDRC Projects for Private Capital
The NDRC presented two batches of 88 projects to bring in 31.1 billion yuan (approximately $4.7 billion) of private capital.
Policy Implementation Timeline
The NDRC has organized 31 symposiums with private enterprises since July 2023, hearing from 151 companies face to face.
Economic Outlook
Wang Qing expects consumption growth to accelerate in Q4 as fiscal and financial policies boost consumer spending.
The headline
China's government plans to issue a domestic demand strategy and smart manufacturing policy to address weak private investment and stimulate economic growth in Q4.
