Takeaways from Chinese Premier Li Qiang’s government work report

Beijing laid out a list of priorities for the economy, innovation and the military for this year at the opening session of the National People’s Congress (NPC) at the Great Hall of the People on Thursday. Here are the major takeaways from this year’s government work report and budget report: Major targets for 2026 Gross domestic product growth of 4.5-5 per cent A consumer price index increase of around 2 per cent A fiscal budget deficit of around 4 per cent of GDP Addition of 12 million new...

By Laura Zhou

China lowers economic growth target to 4.5-5% amid global, domestic uncertainties

China's economy grew by 5% last year to $20.01 trillion, riding high on the robust exports despite U.S. tariffs, while domestic consumption, its bugbear, remained sluggish.