(Photo: AFP)BEIJING - China set its annual growth target at between 4.5% and 5% on Thursday, its lowest figure in decades but at the centre of plans to tackle sluggish consumption and a flagging property market. “Rarely in many years have we encountered such a grave and complex landscape, where external shocks and challenges were intertwined with domestic difficulties and tough policy choices.”This year’s growth target is the lowest since 1991, according to AFP research. The only exception was in 2020, when no target was set as the economy reeled from the Covid-19 pandemic. The CCP has said repeatedly that China’s economic growth model must shift away from traditional drivers, such as exports and manufacturing, and towards consumption. The report said 1.3 trillion yuan ($188.5 billion) of ultra-long special treasury bonds would be issued for “major national strategies”, along with 4.4 trillion yuan of local government special-purpose bonds.

Source: Bangkok Post March 05, 2026 18:14 UTC