China sets a economic target of 4.5% to 5% for 2026
發佈日期: 2026-03-05 21:00
TVB News
The National People's Congress opened its annual session in Beijing this morning, with President Xi Jinping attending the opening meeting.
In delivering the government work report, Premier Li Qiang said China has set its economic growth target for this year at between 4.5 and 5 percent. One of the focuses will be on domestic demand, aiming to stimulate consumption for sustained growth.
The 14th National People's Congress opened its fourth session on Thursday morning at the Great Hall of the People in Beijing. President Xi Jinping and other Party and state leaders attended the opening meeting.
Premier Li Qiang delivered a government work report, stating that the overall economic performance last year was stable, with a GDP growth rate of 5 percent.
This year's target growth rate is lowered to between 4.5 and 5 percent, with the aim of establishing a solid foundation for future development. This target aligns with the broader vision for 2035 and corresponds with the long-term growth potential of the economy. Additionally, this year marks the beginning of the 15th Five-Year Plan.
Premier Li introduced a number of government initiatives and outlined 20 key benchmarks, including a commitment to double per capita GDP by 2035 as compared to 2020, reaching the level of moderately developed countries.
The expenditure on research and development is expected to increase at an average annual rate of over 7 percent.
In terms of technology development, the digital economy industry is projected to grow by 12.5 percent.
Furthermore, domestic consumption will be a key focus this year. The government plans to boost consumption, investment, and grassroots income to enhance spending power.
Li Qiang also mentioned that the overall strategy and the continuity of the policies should also be taken in consideration when implementing the 15th Five-Year Plan.
