Key takeaways from China's new 5-year economic blueprint and growth target
ABC News
China has set an economic growth target at the slowest since 1991 at the opening of its annual national congress, in what some economists interpreted as a reflection of pragmatism as a weak domestic economy bites
BEIJING -- China on Thursday set its lowest economic growth target since 1991 at the opening of its annual national congress, in what some economists interpreted as a reflection of pragmatism as a weak domestic economy bites.
Beijing also released the full draft of its five-year plan up to 2030 outlining its economic and political policy priorities, with a focus on boosting self-reliance in areas like artificial intelligence, robotics and other advanced technologies as China's rivalry with the U.S. heats up.
The weeklong congress is expected to approve the five-year plan in coming days.
Here are the key takeaways from Chinese Premier Li Qiang’s annual government work report at the congress and China’s next five-year plan:
Li unveiled an economic growth target of 4.5% to 5% for 2026 — the lowest target since 1991 — and the first downgrade following an official “around 5%” target set for between 2023 and 2025.
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