Chinese shares close higher Friday

Chinese stocks closed higher on Friday, with the benchmark Shanghai Composite Index up 0.41 percent to 3,889.35 points.

The Shenzhen Component Index closed 0.84 percent higher at 13,258.33 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 0.97 percent to close at 3,194.36 points Friday.

The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

China's annual Central Economic Work Conference has outlined a policy agenda for the coming year that combines short-term stabilization measures with long-term structural reforms, signaling a continued focus on "seeking progress while maintaining stability" and improving growth quality and efficiency.

According to the conference, next year's macroeconomic policy will emphasize strengthening both counter-cyclical and cross-cyclical adjustments to support steady, high-quality development.

"The policy's orientation aims to maintain stability while pursuing progress and enhancing efficiency and effectiveness in economic development. This means improving the efficiency and benefits of economic growth. In terms of overall policy design, there is a particular emphasis on increasing the strength of counter-cyclical and cross-cyclical adjustments. Counter-cyclical measures address short-term economic fluctuations, while cross-cyclical adjustments focus more on medium- and long-term issues. Through a series of policies, important reforms across many areas can be advanced, enabling the economy to achieve long-term and stable development," said Zou Yunhan, deputy director of the Macroeconomic Research Office of the State Information Center under the National Development and Reform Commission.

The conference listed eight priorities for the economic work in 2026.

"These eight priorities are important measures to implement the new development philosophy. On the demand side, we must adhere to domestic demand as the main driver, and on the supply side, we must adhere to innovation-driven development. At the same time, advancing reform is essential to unlocking institutional vitality. Most importantly, we must ensure that our efforts focus on the wellbeing of the people. I believe this is crucial for achieving common prosperity," said Lin Chen, a professor of the School of Applied Economics in Renmin University of China.