China’s 2026 economic growth target of 4.5% to 5% is aimed at promoting high-quality development while balancing ambition with feasibility, according to Shen Danyang, head of the team that drafted this year’s government work report. The range is designed to allow structural adjustments, risk management, and regional tailoring, while remaining aligned with China’s 2035 vision. It reflects domestic conditions and external challenges, leaving flexibility for reforms and emphasizing high-quality growth. Shen noted that the target is consistent with China’s growth potential and would be among the highest for major economies globally, supported by resilient economic fundamentals, new quality productive forces, proactive macro policies, and deeper reforms. Chen Changsheng, another member of the drafting team, added that policy support will strengthen domestic demand amid persistent “strong supply, weak demand” conditions. Measures include boosting household incomes, upgrading supply, expanding healthcare and eldercare support, supporting consumer goods trade-in programs, and removing consumption barriers, leveraging China’s relatively low government debt and available tools for reserve ratio and interest rate adjustments.
Credit : CGTN
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