China to set GDP growth range, providing policy flexibility in 2026: sources

South China Morning PostCenter-RightEN 1 min read 100% complete by SCMP ReportersJanuary 22, 2026 at 11:00 PM

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Sources indicate that China's government is likely to set its 2024 GDP growth target in a range of 4.5% to 5%. This target, expected to be unveiled at the National People's Congress in early March, suggests a willingness to accept slightly slower growth compared to the 5% achieved in each of the past three years. The move reflects Beijing's emphasis on "high-quality" development and a shift away from prioritizing rapid economic expansion as the primary measure of local officials' performance. This approach aligns with the start of a new five-year plan and the lead-up to the Communist Party's national congress in late 2027, prioritizing economic rebalancing and stability. The target will guide local governments in formulating their economic plans.

Key Entities & Roles

Key Player Opposition Context

Beijing 60% National People's Congress 60% Communist Party of China 70% China ×390%

Keywords

gdp growth 100% economic growth target 90% economic policy 80% high-quality development 70% policy flexibility 70% political performance 60% economic rebalancing 60% national people’s congress 50% five-year plan 50% local government officials 40%