Chinese regions cut growth targets for 2026

Ahead of China's national economic goal announcement on March 5th, a majority of its regions have lowered their growth targets. Twenty-one out of 31 provincial-level regions, including populous Guangdong, have reduced their annual growth targets for 2026. Guangdong's target decreased to a range of 4.5% to 5%, compared to "around 5%" previously. Other regions with lower targets include Tianjin, Hebei, and Shanxi. Jiangxi is the only region that increased its target. This trend suggests the national growth target may also be reduced from "around 5%" to a range of 4.5% to 5%. The adjustments reflect a potentially more moderate outlook for economic expansion across China.