On Thursday, March 5, China unveiled its main development goals for the period 2026-2030 in a government work report presented for review at the 4th session of the 14th National People's Congress.
According to the report, over the next five years, China aims to maintain GDP growth within a rational range and set annual targets based on specific conditions. Caspian Energy Media reports with reference to Chinese Xinhua.
This will lay a solid foundation for doubling GDP by 2035 compared to the 2020 level and achieving the status of a moderately developed country, the report states. China has set a target to ensure economic growth of 4.5-5 percent in 2026 and will strive to exceed this target in practice. This is stated in the government work report presented on Thursday for review at the 4th session of the 14th National People's Congress.
According to the report, China has outlined other key development targets for the current year: the surveyed urban unemployment rate is set at approximately 5.5%; over 12 million new urban jobs are to be created; the Consumer Price Index (CPI) is expected to rise by around 2%; personal income is projected to grow in step with economic growth; the balance of payments will remain generally stable; grain output is targeted to reach approximately 700 million tonnes; and energy consumption per unit of GDP (carbon intensity) is to be reduced by about 3.8%.
To ensure innovative and 'green' development, annual spending in these areas is projected to increase by over 7%, while overall carbon intensity of GDP is targeted to decrease by 17% during the 2026–2030 period.
According to the report, China will also increase the share of added value from key sectors of the digital economy in GDP to 12.5 percent, and raise the expected average life expectancy of the population to 80 years.
To ensure the effective implementation of the goals and objectives of the 15th Five-Year Plan, China has put forward a total of 109 major projects across six sectors, such as directing the development of productive forces of a new quality and ensuring and improving the well-being of the people, the report says.
