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China Sets 2026 Growth Goals, Prioritizes Innovation and Stability

3/23/2026

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Summary

Story summary

China's parliamentary sessions approved the 2026 government work report and the 15th five-year plan, setting policy direction.
Premier Li Qiang announced last year's GDP grew by 5% and set this year's target range at 4.5–5%.
The plan prioritizes innovation, with R&D spending rising over 7% annually and GDP carbon intensity falling 17%.
It also aims to stabilize grain production at 725 million tonnes and improve education and life expectancy.

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Story summary

China's parliamentary sessions approved the 2026 government work report and the 15th five-year plan, setting policy direction.
Premier Li Qiang announced last year's GDP grew by 5% and set this year's target range at 4.5–5%.
The plan prioritizes innovation, with R&D spending rising over 7% annually and GDP carbon intensity falling 17%.
It also aims to stabilize grain production at 725 million tonnes and improve education and life expectancy.