China sets target of 4.5-5% GDP growth for this year

China has set its GDP growth target for 2026 at 4.5 to 5 percent, a moderate projection that experts said allows greater policy flexibility to focus on high-quality development while maintaining stable growth, given the structural challenges in the country's economy and the uncertain global landscape.

The annual growth target was unveiled on Thursday in the Government Work Report delivered by Premier Li Qiang to the National People's Congress for deliberation, as the nation's top legislature opened its annual session on Thursday in Beijing.

The draft outline of the 15th Five-Year Plan (2026-30), a blueprint for the country's economic and social development in the next five years, was submitted to the opening meeting of the fourth session of the 14th NPC for review.

"The GDP growth target is well aligned with our long-range objectives through the year 2035 and broadly in line with the long-term growth potential of China's economy," the Government Work Report said.

In the next five years, China expects to keep its GDP growth within an appropriate range, with annual growth rates to be determined in light of actual conditions, according to the report.

Over the past five years, China's economy has grown steadily amid strong headwinds, with an average annual growth of 5.4 percent, well above the global average.