BEIJING, 05 March 2026 (TATOLI) – China has set an economic growth target of 4.5 percent to 5 percent this year, and will strive for better in practice, according to a government work report submitted Thursday to the country’s top legislature for deliberation.
Delivering the report at the opening of the fourth session of the 14th National People’s Congress in Beijing, Premier Li Qiang said the growth target aligns with China’s long-term development goals through 2035 and is consistent with the country’s economic growth potential, with favorable conditions in place to achieve it.
Key development targets for this year include maintaining a surveyed urban unemployment rate of about 5.5 percent and creating more than 12 million new jobs in urban areas.
The government also aims to keep the consumer price index (CPI) increase at around 2 percent, while ensuring that personal income grows in line with overall economic expansion.
Other objectives include maintaining a basic balance in the balance of payments and achieving grain production of approximately 700 million tonnes.
In addition, the country plans to cut carbon dioxide emissions per unit of GDP by about 3.8 percent.
According to the report, Beijing will continue to implement a more proactive fiscal policy in 2026 and boost government spending, with the deficit-to-GDP ratio set at around 4 percent.
The report noted that the world’s second-largest economy showed strong resilience over the past year, with gross domestic product (GDP) surpassing 140 trillion yuan.
According to global analysts, the target range demonstrates a prudent response to global uncertainty and offers policymakers greater flexibility to emphasize high-quality development. It also reflects confidence in the ability of the world’s second-largest economy to maintain stable growth despite mounting global volatility.
TATOLI
