China

时政微观察丨为人民出政绩 以实干出政绩

China Daily | Local Language | News | Jan. 23, 2026 | UndeterminedPolitics and Elections

On January 20, 2026, General Secretary Xi Jinping emphasized the need to deepen the study and implementation of the Fourth Plenary Session of the 20th Central Committee, aiming to unify thinking and concentrate efforts to ensure a successful start to China’s 15th Five-Year Plan. This plan prioritizes economic development-centered, high-quality growth amid a complex environment of risks and opportunities. Xi stressed the importance of leadership at all levels improving political judgment and execution, noting the Party Central Committee’s unified leadership is essential for steady and successful economic progress.

The seminar for provincial- and ministerial-level leading cadres underscored adhering to the Party’s major strategies, policies, and economic tasks outlined in the 2025 Central Economic Work Conference. Initial 2026 measures include national subsidies, green consumption promotion, and expanded government financing guarantees to stimulate market vitality and support business entities. Xi highlighted the need for localities to pursue sustainable development tailored to their unique resources and conditions, advocating against one-size-fits-all approaches by encouraging efforts aligned with comparative advantages and local realities.

Xi called for a correct view of performance focused on tangible achievements that benefit the people, emphasizing that success is measured by public satisfaction and improvements in livelihoods. The Party prioritizes practical work that addresses the urgent needs of the population, from ecological protection along the Yangtze River to child-raising subsidies and major infrastructure projects aimed at enhancing public services and living environments. Local and central plans must align strategically while remaining adaptable to local circumstances to ensure effective implementation.

In the inaugural year of the 15th Five-Year Plan, authorities are tasked with anchoring targets in concrete actions, with solid results serving to establish momentum for the broader goals of building Chinese-style modernization. The leadership underscores that practical work and execution are paramount for political success and the continued prosperity of the people.

Xinhua | English | News | Jan. 23, 2026 | UndeterminedTech Development/Adoption

Hong Kong is taking a proactive yet cautious approach to developing digital assets, emphasizing the principle of "same activity, same risk, same regulation" to ensure responsible and sustainable market growth. Since 2023, Hong Kong has licensed 11 virtual asset trading platforms and plans to introduce a stablecoin licensing regime later this year. The government has also been a leader in tokenization, issuing three batches of tokenized green bonds totaling about 2.1 billion U.S. dollars.

Financial Secretary Paul Chan highlighted the synergy between finance and technology, noting that digital assets improve transparency, efficiency, inclusiveness, and risk management in financial services. These innovations also support better capital allocation to the real economy. Chan's remarks were made during the World Economic Forum Annual Meeting in Davos, where he also met with WTO Director-General Ngozi Okonjo-Iweala to express Hong Kong and China's strong support for free trade, multilateralism, and WTO reform efforts.

Additionally, Chan held discussions with senior officials from various economies, international organizations, and business leaders to promote Hong Kong's latest developments and strategic advantages as an international financial center.

Yicai Global | English | News | Jan. 23, 2026 | UndeterminedEconomic Growth

The ASEAN+3 region, comprising the 10 ASEAN members along with China, Japan, and South Korea, is projected to experience stronger economic growth in 2026 than previously forecasted. The ASEAN+3 Macroeconomic Research Office (AMRO) updated its outlook, predicting a 4 percent expansion in 2026 following 4.3 percent growth in 2025, marking a 0.2 percentage point upward revision for both years. China’s growth forecast was similarly raised to 4.6 percent in 2026 from the earlier estimate, supported by macroeconomic policies, resilient exports, and investment in high-tech manufacturing.

The region’s economic resilience is attributed to strong technology demand and robust foreign direct investment inflows into sectors such as advanced electronics, electric vehicles, and digital services. Semiconductor exports in the region grew by 21.7 percent in the second half of 2025, driven by demand related to artificial intelligence and cloud infrastructure. The global purchasing managers’ index for electronics new orders showed improvement in December 2025, indicating continued export growth. Regional equity markets have also gained since October 2025, boosted by momentum in artificial intelligence despite concerns about US tariff policies.

Despite more balanced risks overall, AMRO identified ongoing uncertainties and downside risks, particularly linked to unpredictable US trade policies and potential expansions of protectionist measures. A significant slowdown in technology demand, possibly caused by market corrections or delays in AI adoption, could adversely affect regional exports, given the sector's cross-border ties. AMRO emphasized the importance of policy readiness to manage shocks in the short term, while encouraging diversification of growth drivers and deeper regional economic integration to enhance long-term resilience.