Stable Yuan, Shrinking Flight: What China’s NPC Means for Crypto

China’s National People’s Congress opened on March 5 with signals that will reshape crypto capital flows for years to come. A stable yuan, record fiscal spending and a structural push toward equity financing and RWA markets matter more for digital asset investors than the headline growth target of 4.5–5%, the lowest range since 1991.

China’s economy surpassed $20 trillion for the first time in 2025. Even at the floor of the new target range, the country still adds roughly $900 billion to global output this year — an amount comparable to the full GDPs of the Netherlands, Saudi Arabia, Poland or Switzerland — and in 2025 contributed around 30% of total global economic expansion.

On property, Beijing stopped short of a sweeping bailout, pledging to coordinate orderly risk resolution across real estate, local government debt and smaller financial institutions. The “white list” mechanism for housing projects continues and unsold homes will be purchased for government-subsidised use, but there is no aggressive reflation of the sector.

China, Beijing

stable yuan, npc, crypto capital, digital assets, fiscal spending, equity financing, rwa markets, growth target, unsold homes, white list