China’s top leadership is set to convene a high-level meeting as early as Wednesday to discuss urgent measures aimed at boosting the domestic economy and stabilizing capital markets, according to sources familiar with the matter. The gathering comes in response to intensifying trade tensions with the United States.
The planned meeting follows the U.S. decision to nearly double tariffs on Chinese imports to 104% on Wednesday. It marks the first publicly known senior-level policy discussion since President Donald Trump announced sweeping “reciprocal” tariffs on Chinese goods last week.
Senior officials from the State Council and several major regulatory and government agencies are expected to attend, the sources said, speaking on condition of anonymity due to the sensitivity of the matter.
Discussions will reportedly center around strategies to stimulate domestic consumption and support financial markets. Export tax rebates are also likely to be on the agenda, one source added.
Despite the escalating trade tensions, Chinese stocks found some footing on Wednesday. State pledges to support the local market, coupled with surging investor interest in domestic tech firms, helped ease negative sentiment triggered by the latest U.S. tariff announcement.
The State Council Information Office, which handles media inquiries for the Chinese government, has yet to issue a comment.
President Trump’s aggressive tariff strategy has rattled the global trading system, sparking fears of a potential global recession and triggering sharp declines in global stock markets.
While Beijing has retaliated with counter-tariffs and accused Washington of economic blackmail, analysts say China may be feeling increasing pressure as Trump’s tariffs target both Chinese exports and products made using Chinese components.
Attendees at the meeting are expected to include officials from the People’s Bank of China (PBOC), the Ministry of Finance (MOF), the Ministry of Commerce (MOFCOM), the National Financial Regulatory Administration (NFRA), and the China Securities Regulatory Commission (CSRC), according to sources.
None of the agencies responded to requests for comment.
Some of the proposed economic support measures could be rolled out in the coming weeks, one source noted.
Chinese state media is anticipated to provide coverage of the meeting’s agenda, as authorities aim to restore confidence in both the economy and capital markets.
The trade war comes at a time when China is already grappling with a prolonged property sector crisis and rising local government debt, both of which have dampened business and consumer sentiment.
Chinese Premier Li Qiang, speaking on Tuesday, said the country’s policies had fully considered external uncertainties and expressed confidence in Beijing’s ability to counter negative global pressures.
