China sets 2026 GDP growth target of 4.5-5pc
China has set an economic growth target of 4.5 percent to 5 percent for 2026, according to a government work report delivered by Premier Li Qiang at the start of the annual National People's Congress on Thursday. The report also said Beijing "will strive for better in practice". Among the other targets this year are a surveyed urban unemployment rate of around 5.5 percent, an inflation rate of 2 percent, growth in personal income in step with economic growth, and a 3.8 percent drop in carbon dioxide emissions per unit of GDP. Premier Li also said 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 also said the world's second-largest economy proved remarkably resilient over the past year. China posted GDP growth of 5 percent in 2024 and 2025. Edited by Edmond Fong