BEIJING — Chinese President Xi Jinping has called for efforts to achieve the country’s full-year economic targets as China marks the 77th anniversary of the founding of the People’s Republic.
Xi made the remarks at a National Day reception in Beijing on September 30, according to Reuters. He also reiterated China’s opposition to Taiwan independence and what Beijing describes as external interference in the Taiwan issue.
Economic targets remain a major focus
The economic message comes at an important moment for China. September data showed manufacturing activity returning to expansion territory, while a private services survey indicated stronger growth in the service sector.
The official manufacturing PMI rose to 50.1 in September from 49.8 in August. Production and new orders both improved, although smaller businesses continued to face weaker conditions.
The government has set a 2026 economic growth target of 4.5% to 5%. Meeting that target requires continued activity in manufacturing, services, investment and consumption during the final quarter.
Policy support has increased
China has introduced a series of targeted measures to support the economy. The central bank has expanded relending facilities for technology companies, private businesses and infrastructure projects. Housing-loan interest subsidies have also been introduced as policymakers seek to stabilize the property market.
The measures reflect the challenge of supporting growth while dealing with uneven domestic demand and financial risks associated with the property sector.
Manufacturing shows a modest recovery
The September PMI data offered a positive signal for factories. The production sub-index rose to 51.7 and the new-orders index reached 50.5. High-tech manufacturing recorded particularly strong activity.
However, the data also showed that the recovery is uneven. Medium-sized and small enterprises remained below the 50 threshold, suggesting that some parts of the industrial economy continue to face pressure.
Services add another positive signal
A private survey showed China’s services sector expanding at its fastest pace in three months. The RatingDog China General Services PMI rose to 51.6 in September from 51.4 in August.
New business increased and employment rose for a fifth consecutive month. Stronger services activity could support household incomes and consumption if the trend continues.
Technology remains part of the growth strategy
China is also placing increasing emphasis on technology as a source of future growth. Its 2026-2030 science and technology agenda includes artificial intelligence, semiconductors, quantum technology, biotechnology and advanced manufacturing.
Officials say the objective is to strengthen the full innovation chain, from basic research to commercial applications. The strategy is closely connected with industrial policy and the country’s effort to develop higher-value manufacturing.
Taiwan remains a major political issue
At the National Day reception, Xi also reiterated Beijing’s opposition to Taiwan independence and external interference. Taiwan’s government rejects Beijing’s sovereignty claims and maintains that the future of the island should be determined by its people.
The issue remains one of the most sensitive areas in China’s relations with the United States and other governments in the region.
National Day comes amid active diplomacy
The speech follows a recent meeting between Xi and U.S. President Donald Trump in Washington. Trump said afterward that the two leaders discussed several issues, including the release of political prisoners.
The two governments are also working on trade issues. China recently extended two investigations into U.S. trade practices until December 27, while both sides continue discussions over tariffs and broader economic relations.
What the economic message means for the final quarter
China’s policymakers will now be watching whether the improvement seen in September continues. Consumer spending during the National Day holiday will provide one near-term indicator, while October industrial and investment data will offer a broader picture.
The challenge is to ensure that stronger industrial and services activity translates into sustainable domestic demand. Property conditions, household confidence and private-sector investment remain important parts of that equation.
Global implications
China’s economic performance matters beyond its borders because the country is a major manufacturing center, consumer market and trading partner. Changes in Chinese demand can affect commodities, shipping and industrial companies worldwide.
At the same time, China’s technology policies influence global competition in AI, batteries, electric vehicles and advanced manufacturing.
Follow more developments in our International News section and Business section.
Source: Reuters reporting on Xi Jinping’s National Day reception and official Chinese economic data.
आपके लिए सुझाव
