Beijing on Thursday unveiled a slightly lower growth target of 4.5%-5% for 2026, down from last year's 5%, which was met largely through a one-fifth surge in its trade surplus to a record $1.2 trillion.
By Reuters |
Reuters
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Beijing: China will boost spending in major infrastructure and public services to help meet this year's economic growth target, government officials said on Friday, as the US-Israeli war on Iran adds to global uncertainty.
Beijing on Thursday unveiled a slightly lower growth target of 4.5%-5% for 2026, down from last year's 5%, which was met largely through a one-fifth surge in its trade surplus to a record $1.2 trillion. "To achieve the target, we have a solid foundation, which is reflected in at least three aspects: overall scale, innovation capacity, and risk-response capability," Zheng Shanjie, the head of the National Development and Reform Commission, the state planner, told a press conference.
"At the same time, we are clearly aware that many difficulties and problems remain in the process of economic and social development." The government on Thursday also set out a five-year plan aimed at accelerating scientific breakthroughs and embedding artificial intelligence across the economy, as the rivalry with the US intensified.
Under the plan, China will roll out 109 major projects, spanning water and power networks, computing-power infrastructure, urban pipelines, consumption-related facilities, and education and healthcare, with investment expected to exceed ¥7 trillion this year, Zheng said.
