Experts highlight public welfare, risk control in 2026

Leading Chinese economists hailed the Central Economic Work Conference's emphasis on public welfare and comprehensive green transition with carbon emissions peaking and carbon neutrality as the leading, saying they are strategic pivot in the country's economic work next year.

The conference held last week set a clear tone in prioritizing coordinated regional development, green transition, and "people-first" approach to public welfare. According to experts, these pillars are essential to the quality improvement and efficiency enhancement required for China's modernization.

"An important aspect of improving people's livelihood is ensuring the stability and development of individuals, families and the whole society. We still have the world's largest labor force. [We should be] confident that in the future era of artificial intelligence, the size of high-quality and high-caliber population will also top the world," said Zhu Min, a member of Senior Expert Advisory Committee at China Center for International Economic Exchanges.

The conference also stressed that high-quality development requires high-level security, upholds the security bottom line and defuses risks in key areas actively and prudently.

Huang Qunhui, a researcher at the Institute of Economics under the Chinese Academy of Social Sciences, outlined a step-by-step approach to insulate the financial sector from current market volatilities.

"Real estate risks should be stabilized with local government debt risks to be gradually resolved so that they would not trigger risks in the financial sector. And these are all questions in development, but we could also gradually resolve them through firm confidence," said Huang.

Chen Binkai, vice president of Central University of Finance and Economics, noted that while the international landscape remains unpredictable, China's economic path relies on self-improvement.

"There are some aspects of the external environment that we cannot control or influence. But what we can do is to manage our own affairs well and practice our internal strengths to bring new drivers and momentum for economic growth," said Chen.

China's Central Economic Work Conference is a significant annual event where top leaders review the current year's economic performance and set priorities for the upcoming year.

Experts highlight public welfare, risk control in 2026

The inaugural International Forum on Mutual Learning Among Civilizations opened in China's Macao Special Administrative Region on Tuesday, attracting over 300 participants.

The forum, scheduled for Tuesday and Wednesday, brings together representatives of government and international organizations, and leading experts from around the world to have dialog and academic exchanges.

Under the theme of "Mutual Learning among Civilizations, Inheritance and Development," the conference features two parallel sub-forums -- "Mutual Learning among Civilizations and Diverse Coexistence" and "Conservation and Sustainable Development of Cultural Heritage"-- alongside a series of academic salons. It will also feature nearly 20 keynote speeches and discussions.

At the forum, Secretary for Social Affairs and Culture of the Macao SAR government O Lam highlighted Macao's historical role as a bridge between civilizations.

"This is Macao, strong in a gentle mood, adhering to tradition in fashion, maintaining peace, harmony, courtesy and integrity. Human civilization has never advanced without exchanges and mutual learning. Macao's recent history of five centuries stands as a living record of the harmonious coexistence and common development of Chinese and Western civilizations. Here, there has been no clash of civilizations, only cultural convergence; no hierarchy of values, only dialog on an equal footing. Macao, with its history of integration of Chinese and Western civilizations, offers practical evidence, and will continue to evidence that the old logic of zero-sum game is unsustainable, while cooperation and harmony represent the true direction of human civilization," she said.

Qian Chengdan, professor of history from Peking University, also underscored the importance of civilizational diversity.

"Diversity of civilizations is among the most fundamental and vital attributes of humankind. It is hard to imagine a world with only one civilization, one voice. If there were only one single civilization and one single voice, mutual learning among civilizations will be out of the question," he said.

Macao hosts inaugural International Forum on Mutual Learning Among Civilizations