China has set its economic growth target for the current year at the lowest seen since 1991, allowing room for structural adjustments amid heightened global uncertainty and geopolitical risks. In the opening session of the National People's Congress on Thursday, Premier Li Qiang said the economy is expected to grow 4.5-5 percent in 2026.
The government had targeted "around 5 percent" growth since 2023. Beijing achieved its 5 percent growth target in 2025.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.