China lowers 2026 growth target to 4.5-5%, first cut in three years amid mounting headwinds
CNA
China has unveiled its 2026 GDP growth target at the annual Two Sessions, a closely watched signal of policy direction as the economy grapples with weak demand, property strains and trade pressures.
BEIJING: China set its 2026 economic growth target at 4.5 to 5 per cent, marking the first downgrade since 2023, according to the government work report reviewed by CNA on Thursday (Mar 5).
The target was set at “around 5 per cent” in each of the past three years.
The move signals a more cautious outlook as the world’s second-largest economy grapples with deflationary pressures, a protracted property downturn and heightened trade tensions with the United States.
Chinese Premier Li Qiang is set to deliver the government work report shortly at the opening session of the National People’s Congress (NPC).
China’s economy grew 5 percent in 2025, one of the slowest rates in decades according to official data released in January, reaching more than 140 trillion yuan (around US$20.3 trillion) - as officials struggled to overcome persistently low consumer spending and a debt crisis in the country's property sector.
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