China targets lowest growth range since 1991 in realistic move as pressures rise

Beijing to prioritise hi-tech over stimulus-driven growth with focus on the people in notable shift, premier’s work report to NPC reveals

A 4.5 to 5 per cent GDP growth target – the lowest since 1991 – was announced by Premier Li Qiang on Thursday at the opening session of the National People’s Congress (NPC), China’s top legislature.

He emphasised that it would “strive for better results in practice” to align with the goal of doubling the 2020 per capita gross domestic product and realising medium- to long-term economic potential.

The world’s second-largest economy expanded by 5 per cent last year, meeting the “around 5 per cent” official target amid a tariff war with the United States and a property market downturn at home.

Chinese premier sets 2026 GDP growth target at 4.5-5%

Source: News - South China Morning Post