China’s key NPC meeting comes to a close as lower growth target set

The National People’s Congress signals firm stance against corruption as China’s 15th five-year plan is approved.Published On 12 Mar 2026China’s annual legislative meeting is wrapping up after setting the country’s lowest economic growth target in nearly 30 years, excluding during the COVID-19 global pandemic.Nearly 3,000 delegates participating in the National People’s Congress (NPC) were due on Thursday to formally approve an economic growth target of “4.5 to 5 percent”, as set out in China’s latest five-year plan.Recommended Stories list of 4 itemslist 1 of 4Qatar PM urges resilience and unity amid Iran strikeslist 2 of 4Iran’s authorities warn against protests as Israel threatens Basij forceslist 3 of 4Israeli strike hits Beirut waterfront near tents of displacedlist 4 of 4Who bombed the Iranian girls’ school, killing more than 170? What we knowend of listThe 15th iteration of the five-year plan, an economic roadmap for 2026 to 2030, also set targets for inflation, the fiscal deficit ratio and urban unemployment.China has set the longterm goal of becoming a “moderately developed” country by 2035 and raising gross domestic product (GDP) per capita to $20,000. The figure was $13,303 in 2024, according to the World Bank.Planners in Beijing also continue to grapple with deep economic problems driven by the collapse of the property sector, low consumer confidence and a prolonged period of deflation.China’s targets for the next five years include industrial self-reliance and increased state support for industries such as AI, aerospace, aviation, biomedicine and integrated circuits, as well as the development of “future energy, quantum technology, embodied artificial intelligence, brain-computer interfaces, and 6G technology”, according to China’s state-run Xinhua news agency.Beijing also aims to expand the use of the digital yuan, known as the e-CNY, to improve cross-border payments, according to the Reuters news agency. The digital currency is currently under development by the People’s Bank of China, the country’s central bank.