ECONOMY

Two Sessions: With 4.5%-5% Growth Target, China Aims to Create Space for Reform

Published: Mar. 5, 2026 9:35 a.m. GMT+8

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China has set its target for 2026 GDP growth at 4.5% to 5%, while keeping its projections for several other economic indicators unchanged, with priorities including spurring domestic demand, stabilizing real estate and improving technological self-reliance.

The target range — lower than the “around 5%” goal used from 2023 to 2025 — was announced Thursday by Premier Li Qiang as he delivered the government work report to the annual session of the country’s top legislature.

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China set its 2026 GDP growth target at 4.5% to 5%, lower than last year’s 5%.
Economic projections: CPI growth around 2%, urban unemployment rate around 5.5%, over 12 million new urban jobs, fiscal deficit-to-GDP ratio near 4%.
Local governments’ special-purpose bond quota is 4.4 trillion yuan; ultra-long treasury bond quota is 1.3 trillion yuan.

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