economy
March 6, 2026
China dials down growth ambitions with decades-low target. Here's why
China has set its lowest growth target in decades, acknowledging domestic challenges and pointing to global uncertainty.
TL;DR
- China's 2026 GDP growth target is set at 4.5% to 5%, the lowest since the early 1990s.
- The lowered target acknowledges increased global uncertainty, including the U.S.-Israel conflict impacting energy supply, and domestic challenges like weak consumption and investment.
- Premier Li Qiang acknowledged the impact of U.S. tariffs and highlighted business struggles and local government financial difficulties.
- China aims to create 12 million urban jobs with an urban jobless rate around 5.5%.
- Beijing plans to continue focusing on technological self-sufficiency and ramp up investment in scientific research.
- Despite domestic drags, the lowered target is still projected to keep China on track to double its economy by 2035.
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