by LU Yibei

China's annual "two sessions" are sending fresh policy signals to businesses, as executives across technology, manufacturing and consumer sectors assess this year's government work report for new growth opportunities.

This year's government work report set a growth target of 4.5%–5% for 2026 and called for building a stronger domestic market while accelerating the development of "new quality productive forces", a policy term referring to innovation-driven growth and advanced industries.

Against a backdrop of uneven demand recovery and rising competition, entrepreneurs say policy signals in the government work report reinforce confidence in China's long-term economic prospects while pointing to new areas of growth.

In the technology sector, much attention has focused on artificial intelligence. LEI Jun, founder of Xiaomi and a deputy to the National People's Congress, said during the meetings that China benefits from strong policy support, a well-developed industrial and supply chain and advantages in data availability.

He added that China is rapidly catching up with global leaders in large language models, with the gap now estimated at roughly six months to one year, according to state news agency Xinhua. As China's manufacturing capabilities improve, the gap will narrow, he added.

Lei said many of Xiaomi's businesses are linked to the government's proposed "AI+" initiative and that the company plans to increase investment in integrated circuits and embodied intelligence.

ZHOU Hongyi, founder of 360 Group and a member of the National Committee of the Chinese People's Political Consultative Conference, highlighted the frequency of technology-related terms in the report. The document mentioned "intelligence" 17 times, including seven references to artificial intelligence, and "security" 35 times, he noted.

The combination reflects what Zhou described as a new form of "intelligent economy", in which digital security and industrial development form the foundation of the technology landscape.

ZHOU Yunjie, chairman of Haier Group, told state media outlet People's Daily Online that the industrial internet will be central to China's future manufacturing competitiveness.

"The industrial internet is not about building roads on old terrain, but about planting forests on new ground," Zhou said. He described the industrial internet as the "brain and nervous system" linking industries, while embodied intelligence represents the "skeleton and muscles" that could power the next generation of smart manufacturing.

Executives in the renewable energy sector say policy signals point to strong long-term prospects. ZENG Yuqun, chairman of Contemporary Amperex Technology Co., Ltd. (CATL), said China's rapid rise in renewable energy reflects years of consistent policy support that helped build a strong industrial ecosystem.

While innovation and industrial upgrading dominated policy discussions, entrepreneurs said consumer demand remains a crucial pillar of growth.

The government work report called for a special campaign to boost consumption and strengthen domestic demand.

TU Changming, a senior director at Yihai Kerry Arawana, told Jiemian News that the report's focus on expanding domestic demand and improving supply quality signals new opportunities in China's food sector.

Staple food categories such as grains and edible oils remain the foundation of consumption, he said, but future growth is likely to come from healthier and higher-quality products.

Restaurant operators say the sector plays an important role in supporting domestic demand. HE Guangqi, founder of Xiabu Xiabu Group, said catering consumption can support both employment and the development of urban service industries. Expanding consumption vouchers and organising dining festivals could further boost spending, he said.

In the cosmetics industry, companies are increasingly linking technological innovation with upgrading consumer demand. HOU Juncheng, founder and chairman of Proya Cosmetics, said the report's call to accelerate high-level technological self-reliance aligns with the sector's growing focus on research-driven product development.

Chinese beauty brands have expanded rapidly amid industry reforms and rising consumer demand for higher-quality products, Hou said, adding that policy support offers clearer direction for the sector's long-term development.

The sports sector is also emerging as a potential consumption driver. DING Shizhong, chairman of Anta Group and a member of the Standing Committee of the CPPCC National Committee, said the sports industry — often described as a green and fast-growing sector — has the potential to drive broader supply chains and become an important engine of domestic demand.

Entrepreneurs say policy signals from the "two sessions" are pushing companies to focus on longer-term growth drivers, from artificial intelligence and advanced manufacturing to consumer upgrading and emerging industries.