Chinese President Xi Jinping presided over a Political Bureau meeting in which “the need to systematically address external disruptions and challenges” was emphasized, according to a statement released by the official Xinhua News Agency.
Given the current situation, the CCP leadership emphasized the importance of “responding to various uncertainties with the certainty of high-quality development,” in reference to the new economic model that Beijing seeks to consolidate amid slowing growth.
Leaders also called for a “more proactive” fiscal policy and a “moderately flexible” monetary policy, with “ample” liquidity in the financial system, as well as measures to stimulate domestic demand, stabilize employment, and manage market expectations.
Among the concerns highlighted are also the yuan’s exchange rate, the real estate sector, excessive competition in some sectors, local governments’ hidden debt, and the need to move forward with the regulation of artificial intelligence.
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On the energy front, the Politburo called for strengthening the planning and construction of new water and power grids, urban underground infrastructure, and computing, communications, and logistics systems. “It is necessary (…) to promote the launch of key projects when conditions are appropriate,” the statement said.
The meeting took place one day after an official from the National Energy Administration highlighted the resilience of China’s oil sector in the face of risks arising from the war with Iran, describing the supply of crude oil and gas as guaranteed, thanks to increased domestic production, diversification of imports, and temporary price controls.
The de facto blockade of the Strait of Hormuz, through which about 20% of the world’s oil and gas passed before the conflict, has affected all of Asia. In China’s case, the route is particularly sensitive, as about 45% of its energy imports pass through it.
The conflict led to a rise in fuel prices in the country, forcing authorities to temporarily cap increases at about half of what would result from the usual mechanism, with the first decline of 2026 recorded last week.
China has benefited to some extent from the situation, with an increase in exports of “green” technologies – such as solar panels, batteries, and electric vehicles – driven by the global rise in crude oil prices.
Beijing has repeatedly condemned the attacks by Washington and Tel Aviv against Tehran, but has also emphasized the need to respect the sovereignty of the Gulf states, with which it maintains close political, commercial, and energy ties.
