【中英双语】2026政府工作报告(三)【2026年经济社会发展总体要求和政策取向】

 三、2026年经济社会发展总体要求和政策取向

III. Overall Requirements and Policy Orientations for Economic and SocialDevelopment in 2026

  今年是“十五五”开局之年。做好政府工作，要在以习近平同志为核心的党中央坚强领导下，以习近平新时代中国特色社会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，认真落实党的二十届四中全会和中央经济工作会议部署，完整准确全面贯彻新发展理念，加快构建新发展格局，着力推动高质量发展，坚持稳中求进工作总基调，统筹国内国际两个大局，更好统筹发展和安全，实施更加积极有为的宏观政策，增强政策前瞻性针对性协同性，持续扩大内需、优化供给，做优增量、盘活存量，因地制宜发展新质生产力，纵深推进全国统一大市场建设，持续防范化解重点领域风险，着力稳就业、稳企业、稳市场、稳预期，推动经济实现质的有效提升和量的合理增长，保持社会和谐稳定，实现“十五五”良好开局。

This year is the first year of the 15th Five-Year Plan period. To deliver in our work, we in government must, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, do the following:

Ÿfollow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era 

Ÿfully implement the guiding principles from the Party’s 20th National Congress and the plenary sessions of the 20th Party Central Committee

Ÿact on the guidelines of the fourth plenary session of the 20th Party Central Committee and last year’s Central Economic Work Conference

Ÿfully and faithfully apply the new development philosophy on all fronts, move faster to foster a new pattern of development, and promote high-quality development

Ÿadhere to the general principle of pursuing progress while ensuring stability

Ÿkeep in mind both domestic and international imperatives

Ÿbetter ensure both development and security

Ÿimplement more proactive and effective macro policies

Ÿmake our policies more forward-looking, targeted, and coordinated

Ÿfurther boost domestic demand and improve supply

Ÿoptimize the allocation of new resources while making the best use of existing ones

Ÿdevelop new quality productive forces in light of local conditions

Ÿadvance the development of a unified national market

Ÿcontinue to prevent and defuse risks in key areas

Ÿprovide greater support to keep employment, enterprise operations, markets, and expectations stable

Ÿpromote higher-quality economic growth while achieving an appropriate increase in economic output

Ÿmaintain social harmony and stability

  今年发展主要预期目标是：经济增长4.5%－5%，在实际工作中努力争取更好结果；城镇调查失业率5.5%左右，城镇新增就业1200万人以上；居民消费价格涨幅2%左右；居民收入增长和经济增长同步；国际收支基本平衡；粮食产量1.4万亿斤左右；单位国内生产总值二氧化碳排放降低3.8%左右。

All this will ensure that we get off to a good start in the 15th Five-Year Plan period. 

The main targets for development this year are as follows:

ŸGDP growth of 4.5–5 percent, while striving for better in practice

Ÿsurveyed urban unemployment rate of around 5.5 percent

Ÿover 12 million new urban jobs

ŸCPI increase of around 2 percent

Ÿpersonal income growth in step with economic growth

Ÿa basic equilibrium in the balance of payments

Ÿgrain output of around 700 million metric tons

Ÿa reduction of around 3.8 percent in carbon dioxide emissions per unit of GDP

  提出这些预期目标，主要考虑是开局之年为调结构、防风险、促改革留出空间，为后期更好发展打牢基础。经济增长目标同2035年远景目标总体衔接，与我国经济长期增长潜力基本吻合，实现这个目标具备有利条件，各地区要结合实际，通过扎实工作争取好的结果。

In proposing these targets, we have considered the need to leave some room for structural adjustments, risk prevention, and reform in the opening year of this five-year plan period, so as to lay a solid foundation for delivering better performance in the coming years. The GDP growth target is well aligned with our long-range objectives through the year 2035 and broadly in line with the long-term growth potential of China’s economy. As favorable conditions for achieving this target are in place, all local governments should, in light of local realities, make solid efforts to deliver good outcomes. 

城镇调查失业率5.5%左右，体现了在就业总量和结构性压力较大的情况下，坚持就业优先政策导向和加大稳就业力度的要求。

We have set the surveyed urban unemployment rate at around 5.5 percent in view of China’s overall employment levels and pronounced structural pressures; this requires us to adhere to the employment-first policy and strengthen support for employment stability. 

居民消费价格涨幅2%左右，考虑了预期引导和现实可能，我们将通过改善总供求关系，推动价格总水平由负转正、消费价格合理温和回升，促进经济良性循环。

A projected CPI increase of approximately 2 percent is feasible and will help guide expectations. By better balancing total supply and demand, we will steer general price levels back into positive territory and produce a reasonable, modest rebound in consumer prices to facilitate a virtuous cycle in the economy. 

单位国内生产总值二氧化碳排放降低3.8%左右，综合考虑了经济社会发展、绿色低碳转型和国家能源安全等多种需要，有利于有序实现2030年前碳达峰目标。

A reduction in carbon dioxide emissions per unit of GDP of around 3.8 percent is projected to meet multiple needs, including those for economic and social development, green and low-carbon transition, and national energy security. Such a drop will enable us to move step by step toward the goal of peaking carbon emissions before 2030. 

  在政策取向上，我们将坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度，切实提升宏观经济治理效能。

In our policy orientations, we will continue to pursue progress while ensuring stability, improve both the quality and performance of growth, boost synergy between adopted policies and new ones, enhance counter- and cross-cyclical adjustments, and make macroeconomic governance more effective.

  继续实施更加积极的财政政策。

We will continue to implement a more proactive fiscal policy.

今年赤字率拟按4%左右安排，赤字规模5.89万亿元、比上年增加2300亿元。一般公共预算支出规模将首次达到30万亿元、比上年增加约1.27万亿元。拟发行超长期特别国债1.3万亿元，持续支持“两重”建设、“两新”工作等。拟发行特别国债3000亿元，支持国有大型商业银行补充资本。

The deficit-to-GDP ratio for this year is set at around 4 percent. The government deficit is set at 5.89 trillion yuan, 230 billion yuan more than last year. Expenditure in the general public budget is projected to reach 30 trillion yuan for the first time, an increase of about 1.27 trillion yuan over last year. A total of 1.3 trillion yuan of ultra-long special treasury bonds will be issued to provide continued support for endeavors such as implementing major national strategies, enhancing security capacity in key areas, and carrying out large-scale equipment upgrades and consumer goods trade-in programs. A total of 300 billion yuan of special treasury bonds will be issued to enable large state-owned commercial banks to replenish their capital.

拟安排地方政府专项债券4.4万亿元，完善专项债券项目负面清单管理和自审自发试点，重点支持建设重大项目、置换隐性债务、消化政府拖欠账款等。

This year, 4.4 trillion yuan of local government special-purpose bonds will be issued. We will improve negative list-based management of projects funded by these bonds and fine-tune trials to enable the prompt issuance of special-purpose bonds upon provincial-level review and approval. The funds raised will be used mainly to support major projects, replace hidden debts, and settle overdue payments owed by governments.

今年财政支出继续保持相当规模，要持续用力优化支出结构，更加注重支持提振消费、投资于人、保障民生等方面，提高财政资金使用效益。

Government spending this year will continue to be fairly large in scale. More will be done to optimize its structure so that fiscal funds are used more cost-effectively, with priority given to boosting consumption, investing in people, and raising living standards.

中央财政增加对地方财力性转移支付规模，开展整合统筹使用转移支付资金试点，增强地方自主财力和统筹能力。压实分级保障主体责任，兜牢基层“三保”底线。

The central government will increase its fiscal transfer payments to local governments. Trials will be conducted to promote more integrated and coordinated use of transfer payments. This will place more fiscal resources at the disposal of local governments and enhance their capacity for coordination. We will see to it that governments at all levels fulfill their respective responsibilities and that, at the primary level, basic living needs are met, salaries are paid, and governments function normally. 各级政府要更好“当家理财”，建立健全增收节支机制，积极盘活利用存量资源资产，严肃财经纪律，强化预算约束，严控一般性支出，坚决落实过紧日子的要求，务必把省下来的每一分钱都用到发展的关键点、群众的急需处。

We in government at every level should take better care of financial resources, establish sound mechanisms for increasing revenue and reducing spending, and make the best use of existing resources and assets. We must reinforce financial and economic discipline, strengthen budget constraints, strictly control general expenditures, and keep our belts tightened. Every cent we save must be spent on solving critical development problems and meeting people’s urgent needs. 

  继续实施适度宽松的货币政策。

We will continue to apply an appropriately accommodative monetary policy.

把促进经济稳定增长、物价合理回升作为货币政策的重要考量，灵活高效运用降准降息等多种政策工具，保持流动性充裕，使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配。

Promoting steady economic growth and an appropriate rebound in prices are key considerations underpinning our monetary policy. We will flexibly and effectively employ a range of policy instruments, including cuts to required reserve ratios and interest rates, and maintain adequate liquidity to ensure that aggregate financing and money supply rise in step with projected economic growth and CPI levels.

优化创新结构性货币政策工具，适当增加规模，完善实施方式。畅通货币政策传导机制，充分发挥数据要素、知识产权等无形资产作用，强化考核评估、融资担保、风险补偿等支持措施，引导金融机构加力支持扩大内需、科技创新、中小微企业等重点领域。

We will develop new and better structural monetary policy instruments, scale them up as needed, and refine the ways they are used. We will smooth out the channels for monetary policy transmission and leverage the role of intangible assets such as data as a production factor and intellectual property rights. We will adopt more supportive measures, including those for assessment, financing guarantee, and risk compensation to guide financial institutions in boosting support for key priorities such as domestic demand expansion, scientific and technological innovation, and micro, small, and medium enterprises. 

规范信贷市场经营行为，降低融资中间费用，促进社会综合融资成本低位运行。保持人民币汇率在合理均衡水平上的基本稳定。

We will effectively regulate business activities in the credit market and lower intermediary financing charges to bring down overall financing costs. The RMB exchange rate will be kept generally stable at an adaptive, balanced level.

  强化改革举措与宏观政策协同。

We will improve coordination between reform measures and macro policies.

推动高质量发展，既要政策给力，也要改革发力。要用改革的办法打通经济循环的卡点堵点，将政策效果转化为经济内生增长动能。

High-quality development must be supported by both effective policies and robust reform measures. Bottlenecks and obstacles impeding economic flows should be cleared away through reform, and policies should help generate internal growth momentum. 

增强宏观政策取向一致性和有效性，将各类经济政策和非经济政策、存量政策和增量政策纳入宏观政策取向一致性评估，使各类政策措施同向发力、形成合力。加强财政、金融、就业、产业等政策协同，深入挖掘政策结合点，创新实施工具，持续放大“组合拳”效应。

We will enhance the consistency of our macro policy orientation and make such policies more effective. All policies, whether economic in nature or not, whether already in place or newly introduced, will be included in evaluations to see that they are consistent with the macro policy orientation. This will ensure that all policies are well aligned and produce synergy. We will boost coordination between fiscal, financial, employment, industrial, and other policies, explore policy alignment opportunities, and develop new implementation tools, so as to deliver the best outcomes possible. 

健全预期管理机制，提振社会信心。

We will refine the mechanisms for managing expectations to bolster public confidence.