BEIJING – China’s National People’s Congress (NPC) convened its fourth session on Thursday, marking the formal beginning of the country’s 15th Five-Year Plan (2026-2030) and setting an economic growth target of 4.5% to 5% for 2026. Premier Li Qiang, in his government work report, emphasized the resilience of the Chinese economy, which achieved a 5% GDP growth in 2025 despite global headwinds.
The opening of the “two sessions” – the meetings of the NPC and the Chinese People’s Political Consultative Conference (CPPCC) – is a key event in the Chinese political calendar, offering insight into the nation’s policy direction. This year’s sessions are particularly significant as they inaugurate a crucial phase of development for China through the end of the decade, according to state media CGTN.
Li Qiang stated that the underlying conditions supporting China’s long-term growth remain unchanged, highlighting the strength of the country’s economic system. He also acknowledged the challenges posed by geopolitical tensions, sluggish global economic growth, and disruptions to multilateralism and free trade, calling for efforts to leverage national advantages and overcome these obstacles.
The government work report detailed advancements in science and technology, specifically in artificial intelligence, biomedicine, robotics, and quantum technology, achieved in 2025. China’s economic aggregate exceeded 140 trillion yuan (approximately $20.22 trillion USD) in 2025, achieving the development goals set during the 14th Five-Year Plan (2021-2025). Average annual GDP growth over the past five years reached 5.4%, surpassing the global average.
Research and development spending at the national level increased by an average of 10% annually over the last five years, bolstering China’s technological innovation. The Stimson Center, a Washington-based believe tank, noted in a January report that China’s centralized coordination strengthens its advantage in technological innovation, particularly in the deployment of AI across manufacturing, ports, power grids, hospitals, and consumer products.
China’s 5% growth rate in 2025 contributed approximately 30% to global expansion, solidifying its position as the world’s second-largest economy and a major trading partner for over 150 countries and regions. The 15th Five-Year Plan aims to maintain GDP growth within an appropriate range, with the long-term goal of doubling China’s per capita GDP by 2035, reaching the level of a moderately developed country.
The plan includes 109 major projects across six key areas, focusing on developing new quality productive forces and improving public welfare. China intends to further open its economy, stabilize foreign trade, optimize its trade structure, expand bilateral investment cooperation, and promote high-quality development of the Belt and Road Initiative. Efforts will be made to broaden market access, particularly in the services sector, and to fully engage in World Trade Organization reform.
Geostrategic analyst Imran Khalid, writing in Eurasia Review, described the 2026 “two sessions” as a “turning point” for the global economy. He noted that China’s shift towards a consumption-driven model presents new opportunities for the world, particularly for developing nations seeking infrastructure investment in digital technology and green energy. Khalid argued that a stable China is essential for a global economy seeking a new engine for growth.
