China’s policy support for the economy is likely to ease modestly in 2026, with the policy settings announced at last week’s National People’s Congress (NPC) suggesting that authorities are increasingly tolerant of a further moderation in GDP growth, says Fitch Ratings. The fiscal stance is set to be neutral to slightly contractionary, in line with our earlier expectations, implying that domestic demand will likely stay subdued and that deflationary pressure may persist. [....]