China Commits to Ending Deflation in 2026 With Strongest Vow Yet

China’s leaders issued their strongest pledge yet to end deflation, a menace haunting the world’s No. 2 economy for three straight years by damaging business profits and holding down workers’ wages.

The government will “steer general price levels back into positive territory,” according to its annual report delivered by Premier Li Qiang in Beijing on Thursday. That language is far more emphatic than the pledge made last year to ensure the “general price level will stay within an appropriate range.”