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China has set its lowest growth target in decades, acknowledging domestic challenges and pointing to global uncertainty, while keeping some stimulus measures in place to counter a possible ramp up in external shocks.
Beijing on Thursday announced its GDP growth target for 2026 at 4.5% to 5%, the least ambitious goal since early 1990s.
The lower target range leaves room for policymakers to “react to the external environment, which has seen increased uncertainty this year,” Danyang Shen, head of the team that drafted the target-setting report, told reporters Thursday, according to a CNBC translation of the Chinese.
“Factors that are uncertain and difficult to predict may turn out to be more numerous than anticipated,” he said, noting that “everyone has seen the latest global trend.”
