China’s top legislature’s annual session opens

2026-03-05 - 07:18

The fourth session of the 14th National People’s Congress (NPC), China’s top legislature, took place at the Great Hall of the People in Beijing today (March 05). Chinese President Xi Jinping, also general secretary of Communist Party of China (CPC) Central Committee and chairman of Central Military Commission, and other Chinese leaders. Premier Li Qiang delivered the report on behalf of the State Council at the event. “Over the past year, the Chinese economy has proved remarkably resilient, forging ahead against headwinds. The economy remained generally stable, and steady growth was registered. Gross domestic product (GDP) grew by five percent, reaching 140.19 trillion yuan (20.28 trillion U.S. dollars). Overall employment remained stable, with 12.67 million urban jobs created, and the average surveyed urban unemployment rate stood at 5.2 percent. Foreign trade registered rapid growth, significant advances were made in export diversification, and a basic equilibrium was maintained in the balance of international payments,” said Li when delivering the report. He also added that China targets an economic growth of 4.5 percent to 5 percent this year. “Main targets for development this year include: an economic growth of 4.5 percent to 5 percent, and we will strive for better in practice; a surveyed urban unemployment rate of around 5.5 percent; over 12 million new urban jobs; an increase in consumer price index of around 2 percent; growth in personal income in step with economic growth; a basic equilibrium in the balance of payments; grain output of around 700 million tonnes; and a drop of around 3.8 percent in carbon dioxide emissions per unit of gross domestic product,” Li said. – Shanika Jayasekara – reporting from Beijing