China has announced its 2026 economic growth target at 4.5 % to 5 %, marking the slowest official GDP goal since 1991 as the world’s second‑largest economy adapts to persistent domestic and external challenges.
The conservative target — unveiled during the opening of the fourth session of the 14th National People’s Congress (NPC) in Beijing — reflects Beijing’s cautious approach in the face of slowing global demand, structural transitions in its economy, and pressures from trade tensions and domestic headwinds.
Premier Li Qiang highlighted that while the range appears modest, it signals a strategic shift toward “high‑quality growth” — with an emphasis on strengthening domestic consumption, advancing innovation, and focusing on sustainability rather than purely chasing higher expansion figures. Analysts see the range as providing policy flexibility amid uncertain global conditions.
The revised goal sets China up to prioritise new drivers of growth such as technological innovation, digital economy sectors, and services — even as traditional engines like manufacturing and real estate face pressures. Domestic economists have noted that China’s growth strategy will need to balance stability with reform to sustain long‑term social and economic progress.
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