Geopolitical events
On September 25, 2026, the People's Bank of China (PBOC) unveiled the "Century Stability Package," a ¥10 trillion macroeconomic stimulus designed to offset trade restrictions imposed by the "East Asian Semiconductor Defense Alliance." This policy prioritizes massive public investment in the "National Lithography Initiative" and establishes a sovereign debt--swap facility for provincial governments to stabilize the national property market. Governor Pan Gongsheng characterized the initiative as a strategic measure to "fortify internal economic circulation" and "insulate the domestic economy from the volatility of the West Asia War." The package represents the largest liquidity injection in the nation's history, targeting a 5.5% GDP growth rate despite the ongoing fragmentation of global supply chains.