Xi Jinping's New Year's Address: "China's Economy Projected to Reach 140 Trillion Yuan... Continued Industrial Upgrading and Technological Innovation"

On December 31, Chinese President Xi Jinping delivered the 2026 New Year's address through China Media Group (CMG). CMG

On December 31, Chinese President Xi Jinping summarized the policy achievements of the past five years and presented the direction of the new national mid- to long-term plan set to begin in 2026 during his New Year's address.

According to China Media Group (CMG), in his 2026 New Year's address released that day, President Xi stated, "2025 will mark the completion of China's 14th Five-Year Plan," and assessed that "notable progress has been made in the fields of economy, science and technology, and people's livelihoods." He projected that China's economic scale would reach approximately 140 trillion yuan and expressed his commitment to continue advancing industrial upgrading and technological innovation.

President Xi mentioned artificial intelligence, semiconductor research and development, space exploration, and hydropower projects, emphasizing that "the integration of science, technology, and industry is becoming a new growth engine." Regarding the cultural and tourism sectors, he explained that the combination of traditional culture and modern content is attracting the interest of younger generations.

In the area of public welfare, he highlighted key achievements such as elderly-friendly policies, improvements in the employment environment, and support for families with children. He stated, "The everyday lives of individuals and the stability of families are the foundation of national development," underlining the importance of policies closely connected to daily life.

On foreign relations, he referred to the hosting of international conferences and efforts to address climate change, stating, "We will contribute to the creation of a fairer and more rational global governance system." While diagnosing that "uncertainty continues" in the global situation, he reaffirmed China's commitment to ongoing cooperation with the international community.

Regarding Hong Kong and Macau, he expressed a commitment to supporting their long-term stability and development within the framework of existing systems, and on cross-strait relations, he reiterated a principled stance by describing them as "peaceful exchanges and a historical trend."

Finally, President Xi mentioned the "15th Five-Year Plan," which will begin in 2026, and declared, "We will continue to pursue high-quality development and reform and opening up."