Xi Projects Confidence In China Economy, Urges Push To Meet 2026 Targets

Chinese President Xi Jinping has projected confidence in the country’s economy despite mounting pressures, saying it has shown “strong resilience and vitality” while calling for efforts to meet the economic targets set for 2026.

Addressing a reception in Beijing on Wednesday to mark the 77th anniversary of the founding of the People’s Republic of China, Xi said China’s economy had “forged ahead under pressure” while shifting towards new growth drivers and higher-quality development. China observes October 1 as National Day, followed by a weeklong holiday.

“Our country’s economy has forged ahead under pressure, shifting towards new drivers and higher quality, and demonstrating strong resilience and vitality,” Xi said.

The comments come as China faces a moderation in growth. Official data from the National Bureau of Statistics showed that the economy grew 4.3 per cent year-on-year in the second quarter of 2026, compared with 5 per cent in the first quarter. Growth for the first half of the year stood at 4.7 per cent.

China has set a 2026 economic growth target of 4.5-5 per cent. Recent data has also highlighted continuing weakness in domestic demand and the property sector, prompting Beijing to introduce fresh measures to support growth, including financing support and mortgage-interest subsidies for some first-time homebuyers.

At the reception, Xi called for firm confidence and steady efforts to achieve the country’s broader development goals. He urged authorities to sustain economic momentum, promote innovation-driven and high-quality development, improve people's livelihoods and accomplish the targets set for the year.

“The great rejuvenation of the Chinese nation is unstoppable,” Xi said, adding that confidence and steady progress would ultimately lead to success for the Communist Party, the Chinese people and the People's Republic of China.

Xi also highlighted what he described as two achievements over the past 77 years: rapid economic growth and enduring social stability and said China was confident in the prospects of its modernisation.

On Taiwan, Xi called for deeper exchanges and cooperation across the Taiwan Strait while reiterating Beijing’s opposition to Taiwan independence and what it described as external interference. He also called for peaceful development of cross-Strait relations and progress towards national reunification.

On foreign policy, Xi said China would continue pursuing an independent foreign policy of peace and advance the four major global initiatives proposed by Beijing, while promoting the idea of a community with a shared future for humanity.

He also reaffirmed Beijing’s commitment to “One Country, Two Systems” in Hong Kong and Macao, saying the central government would support both regions in integrating more closely with China’s overall development while maintaining their long-term prosperity and stability.