How to Promote a Reasonable Rise in Prices? Insights from Members of the Government Work Report Drafting Team

2026-03-07 09:39:59

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Caixin: Prices are closely related to residents’ lives and business operations. Starting at the end of 2024, low prices have attracted high-level attention, and “promoting a reasonable rebound in prices” has become one of the main policy goals in recent years.

The 2026 government work report sets the target for the consumer price index (CPI) increase at around 2%, consistent with the CPI growth target for 2025. Specifically, what measures will be taken to promote a moderate price rebound?

On March 5, 2026, Chen Changsheng, a member of the drafting team for the “Government Work Report” and Deputy Director of the State Council Research Office, explained that this target considers both the need to guide expectations and the reality of possible outcomes, reflecting the importance placed on price issues. There are two related statements in the “Government Work Report” worth noting: one is “improving the overall supply and demand relationship to drive the general price level from negative to positive, with a reasonable and moderate rebound in consumer prices, promoting a healthy economic cycle”; the other is “making the promotion of stable economic growth and a reasonable price rebound an important consideration in monetary policy.”

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