China Cabinet Pledges Stronger Stimulus to Meet 2026 Growth Target

China's State Council pledged on September 28, 2026, to accelerate counter-cyclical policy support, signaling urgency to shore up slowing growth and meet the government's full-year target of 4.5%-5%. The cabinet, chaired by Premier Li Qiang, called for faster issuance and use of government bonds, more efficient fiscal spending, and flexible deployment of monetary tools. It urged major infrastructure projects tied to the six national networks under the 2026-2030 five-year plan to break ground as soon as possible. The push follows weakening momentum: second-quarter growth slowed to 4.3%, with industrial output, retail sales, and investment all softening in early third quarter as the property downturn persists. Beijing will expand relending facilities for technology, industrial upgrading, agriculture, and small firms, and study new support measures for housing, employment, and income growth.