China's economic growth target for 2026 is "proactive and pragmatic," reflecting a broad assessment of domestic conditions and shifts in the external environment, an official said Thursday.
The target of 4.5 percent to 5 percent economic growth, while striving to achieve better results in practice, was announced by Premier Li Qiang when he delivered the government work report on Thursday morning at the opening meeting of the fourth session of the 14th National People's Congress (NPC), the country's supreme organ of state power.
The objective is intended to strike a balance between what is needed and what is feasible, said Shen Danyang, head of the team responsible for drafting this year's government work report, which was submitted to the national legislature for deliberation earlier in the day.
Shen said the target range leaves room for structural adjustment, risk prevention and reforms while remaining broadly aligned with the country's 2035 vision.
Over 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.
This will lay a solid foundation for achieving the goal of doubling China's 2020 per capita GDP by 2035 to reach the level of a moderately developed country, the report said.
"During the 14th Five-Year Plan period (2021-2025), the economy recorded an average annual growth rate of 5.4 percent. Calculations show that China needs to maintain an average annual growth rate of more than 4.17 percent over the next decade to achieve the goal of raising per capita GDP above 20,000 U.S. dollars and doubling the 2020 level by 2035. Furthermore, this target is consistent with China's growth potential, and assessments by many international and domestic economic organizations, experts and think tanks broadly align with our expectations. Among the world's major economies, such a growth rate would still rank among the highest," Shen said.
China's economic resilience, the growth of new quality productive forces, more proactive macro policies and deeper reforms in key areas will help unlock further potential, Shen added.
"We took two aspects into considerations. On one hand, China's economy demonstrates strong resilience and vitality, with its structure continuing to improve and new quality productive forces growing rapidly. On the other hand, the country will implement more proactive and effective macro policies this year and advance reforms in key areas, further unleashing growth potential. Under such conditions, as long as we make full and effective use of favorable factors, we are confident of achieving better results while ensuring effective improvements in quality and reasonable growth in quantity," Shen said.
The 14th NPC is now in session in Beijing from Thursday through March 12.
China's 2026 economic growth target 'proactive and pragmatic': official
