China’s National Development and Reform Commission identified weak domestic demand and an imbalance between production capacity and consumer demand as major economic challenges as officials prepare policies for 2027. At a Friday meeting with private-company executives, commission director Zheng Shanjie also cited pressure from external economic developments. Retail sales rose 1.1% in the first nine months of 2026 from a year earlier, according to the National Bureau of Statistics. The agency said it would encourage private-sector investment, accelerate major construction and development projects, strengthen economic monitoring and expand research into possible policy responses. Business executives sought better access to financing and support for energy needs, while urging authorities to address excessive competition. The statement did not announce specific new stimulus measures.