China sets lowest economic growth target since 1991

It is also the first time the target has been lowered since it was cut to "around 5%" in 2023.

China has set an economic growth target of 4.5% to 5% for 2026, a slight decrease from previous years, amid challenges like a prolonged property slump and global uncertainty.

China has set its 2026 economic growth target at 4.5%-5%, slightly lower than the 5% pace achieved last year, signaling room for greater measures to address industrial overcapacity and rebalance the economy.

China lowered its economic growth target to a range of 4.5% to 5% for 2026, marking the first reduction in the headline target in three years, amid weak domestic market conditions.

China has cut its annual economic growth target to a range of 4.5%-5%, the lowest expansion goal since 1991, as it grapples with challenges both at home and abroad.

China has cut its annual economic growth target to a range of 4.5%-5%, the lowest expansion goal since 1991, as it grapples with challenges both at home and abroad.

China set its most modest growth target in more than three decades, in a tacit acknowledgement that the model powering the country’s rapid rise for four decades is showing strains.

China set its most modest growth target in more than three decades, in a tacit acknowledgment that the model powering the country’s rapid rise for four decades is showing strains. The goal — a range of 4.5% to 5% — is the first formal downgrade since 2023 and the least ambitious expansion goal since 1991. While widely anticipated by economists, it carries symbolic weight in a country where growth figures function as political statements as much as economic forecasts. The shift signals Beijing’s comfort with a slower pace while seeking more sustainable growth drivers to replace debt-fueled property and infrastructure investment. A lower target also reduces the pressure on officials to deploy aggressive stimulus despite a volatile global trade environment.

China has set its target for GDP growth to a record low of 4.5-5%, the first time since 1991 that the figure has dropped below 5%, reflecting an economic strategy that is shifting away from export-led growth to a model that leaders hope will be more resilient to external shocks. Li Qiang, China’s premier, announced the target for 2026 in the opening session of the National People’s Congress (NPC), China’s annual parliamentary gathering, which began on Thursday. Addressing the nearly 3,000 delegates gathered in the Great Hall of the People in Beijing, Li described 2025 as a “truly remarkable” year with “profound and complex developments both at home and broad”, according to the text of the government work report. The NPC will also review the 15th five-year plan, an economic and strategy document for 2026-2030. The low GDP target was reflective of a shift to what Beijing is calling “high-quality growth” – that which is built on hi-tech industries and structural reform rather than the historic drivers of construction and exports. China is also grappling with downward pressures on its economic growth, such as an ageing population, an ailing property sector, weak domestic demand and a slowdown that is expected as a country moves up the income scale.

China has set an economic growth target of 4 ... this year, a slight decrease in the face of a prolonged property slump and other headwinds and uncertainty abroad. The target was announced Thursday in an annual report being presented by Premier Li Qiang at the opening session of this year's ... The report set the goal and added “while striving for better in practice.” The target was lowered from about 5% in each of the last three years. The economy grew 5% last year. Setting a range of 4.5% ... gives the government more leeway to adjust policies this year.