Stay informed with free updates
Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.
China has announced a historically low range for GDP growth this year of between 4.5 and 5 per cent in an acknowledgment that the world’s second-largest economy is set for slower growth.
The figure, released in a report ahead of the opening of the annual session of China’s rubber-stamp parliament, represents a modest step down from last year’s target of “around 5 per cent” and the actual growth of 5 per cent during 2025.
A range of 4.5 to 5 per cent was “broadly aligned with the long‑term objective of reaching mid-level developed-economy income by 2035”, said Standard Chartered senior China economist Carol Liao in a note ahead of the release of the report.
China’s Premier Li Qiang is set to officially announce the growth figure during the reading of his “work report” at the opening of the National People’s Congress, attended by President Xi Jinping, other senior leaders and thousands of delegates from across China.
The growth target comes as China is aiming for global technological supremacy in its next five-year plan, which will also be officially released at the parliamentary meeting, which lasts until next week.
But China’s growth plans will face severe challenges from a domestic slowdown in its own economy and deteriorating global conditions arising from US President Donald Trump’s trade war and attack on Iran.
