Lead Story
China Sets Lowest Economic Growth Target Since 1991
- • China announces a GDP growth target of 4.5%-5% for 2026, the lowest since 1991, during the National People's Congress on 5 March 2026.
- • This marks the first reduction of the growth target since it was set at 'around 5%' in 2023, indicating a shift in economic strategy.
- • Chinese Premier Li Qiang cites complex domestic and international challenges, including lagging domestic consumption, as reasons for the lowered target.
- • The decision reflects a broader trend towards prioritising stability amid geopolitical tensions and economic uncertainties.
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For Chinese citizens: this may lead to reduced job growth and investment. Globally: slower growth in China could affect international trade and supply chains.
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China's lowered growth target signals a significant shift in its economic strategy, prioritising stability over rapid expansion. If this trend continues, global markets may experience increased volatility, particularly in sectors reliant on Chinese demand. Last time such a low target was set, it led to widespread economic adjustments both domestically and internationally.
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اليسار: Left-leaning outlets emphasise the need for a new economic model to address social inequalities exacerbated by slower growth.
الوسط: Centrist outlets focus on the implications for global markets and the potential for increased economic instability.
اليمين: Right-leaning outlets highlight concerns about China's military budget increase alongside economic slowdown, suggesting prioritisation of military over economic growth.
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