China’s top economic planner has identified weak demand as a major challenge facing the country, according to a statement released Friday. Zheng Shanjie, director of the National Development and Reform Commission, said the agency is studying policy options for next year and will take steps to shore up growth momentum.
In the statement, the NDRC said it will work to spur private investment, push forward major projects, strengthen economic monitoring and deepen policy research. The remarks come as Beijing weighs additional support measures to counter sluggish consumption and uncertain external demand.
Weak demand has emerged as a persistent drag on the world’s second-largest economy. Domestic consumption has recovered unevenly since the pandemic, while exports face headwinds from softer global growth and trade tensions. The property sector downturn has also weighed on household confidence and spending.
Zheng's comments suggest the NDRC is preparing a broader policy response ahead of next year's economic agenda. Analysts expect authorities to combine fiscal stimulus, monetary easing and targeted support for consumers and businesses to revive domestic demand.
The NDRC's emphasis on private investment signals an effort to mobilize capital outside the state sector. Chinese leaders have repeatedly pledged to create a more level playing field for private firms, though businesses continue to call for clearer rules and stronger property rights protections.
