China is well-positioned to achieve its 2026 economic growth target given the momentum of new growth drivers and the effectiveness of consumption-boosting policies, among other factors, experts said, noting the macro policies will be more forward-looking, targeted and coordinated.
China targets an economic growth of 4.5 percent to 5 percent this year and will strive for better in practice, according to the Government Work Report submitted Thursday to the country's top legislature for deliberation at the fourth session of the 14th National People's Congress (NPC) in Beijing.
Experts noted that the growth target not only reflects the need for stable growth but also leaves room for structural adjustment, risk prevention, and reform promotion, adding that it aligns with the long-term goals for 2035, driving the economy toward effective qualitative improvement and reasonable quantitative growth.
"Given the current momentum of new growth drivers, the effectiveness of implemented measures to expand domestic demand, and the growth targets set by local governments, we have the conditions, confidence, and foundation to achieve this projected target range," said Guo Liyan, deputy director of the Economic Research Institute under the Chinese Academy of Macroeconomic Research.
Experts said that amid rising uncertainties in the external environment, it is essential to strengthen the domestic economy and enhance internal momentum for development.
To reach the target, the Government Work Report proposed more proactive and effective macroeconomic policies this year, including the continued implementation of a proactive fiscal policy and an appropriately accommodative monetary policy.
"Judging from the arrangements outlined in this year's Government Work Report, the core shift in macroeconomic policy lies in building on last year's 'proactive fiscal policy plus an appropriately accommodative monetary policy' framework, while placing greater emphasis on policy foresight, precision, and coordination, rather than merely increasing the intensity of measures," said Zhang Linshan, a researcher of the Academy of Macroeconomic Research under the National Development and Reform Commission.
China well-positioned to achieve 2026 economic growth target: experts
