China's Xi Jinping emphasises stability at start of new policy cycle

China will accelerate efforts to build a new development paradigm and focus on high quality growth this year, President Xi Jinping said in his Lunar New Year speech. 

 

The nation will also seek to maintain social harmony and stability, Xi said in his speech in Beijing on Saturday, state broadcaster China Central Television reported.  

 

Xi also said China would continue to advance full and rigorous Communist Party self governance and work to secure a strong start to the 15th Five Year Plan, according to CCTV.

 

It is customary for China’s top leadership to deliver a speech ahead of the Lunar New Year, which falls on Feb. 17 this year and marks the start of the Year of the Horse.

 

 

In last year’s address, Xi stressed the need to prevent and defuse risks in key sectors and external shocks, language that was absent from his forward looking remarks this year.

 

China’s economy has entered 2026 with growth stabilizing but still under pressure to rebalance, as policymakers seek to shift momentum away from property and exports toward innovation driven investment and consumption.

 

Financial markets reflect that transition. Equities have swung on mixed economic data and shifting global risk sentiment, while the yuan has stayed relatively steady, highlighting official efforts to curb sharp moves.