China’s key NPC meeting comes to a close as lower growth target set
Al Jazeera
The National People’s Congress signals firm stance against corruption as China’s 15th five-year plan is approved.
China’s annual legislative meeting is wrapping up after setting the country’s lowest economic growth target in nearly 30 years, excluding during the COVID-19 global pandemic.
Nearly 3,000 delegates participating in the National People’s Congress (NPC) were due on Thursday to formally approve an economic growth target of “4.5 to 5 percent”, as set out in China’s latest five-year plan.
The 15th iteration of the five-year plan, an economic roadmap for 2026 to 2030, also set targets for inflation, the fiscal deficit ratio and urban unemployment.
China has set the longterm goal of becoming a “moderately developed” country by 2035 and raising gross domestic product (GDP) per capita to $20,000. The figure was $13,303 in 2024, according to the World Bank.
Planners in Beijing also continue to grapple with deep economic problems driven by the collapse of the property sector, low consumer confidence and a prolonged period of deflation.
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