Overview
- China’s political conclave begins with the CPPCC on Wednesday and the NPC opening Thursday, when Premier Li Qiang delivers the government work report and 2026 targets.
- Economists widely expect a national GDP goal in the 4.5%–5% range, with markets watching for signals on the inflation target near 2%, a fiscal deficit around 4% of GDP, and job creation aims.
- The 15th Five-Year Plan is slated to prioritize technological self-sufficiency and industrial upgrading in areas such as chips, AI, robotics, quantum and 6G, with an emphasis on large-scale application and skills development.
- Investors seek clarity on measures to lift consumption and on a property overhaul that shifts toward a dual-track system featuring higher-quality commercial housing and expanded affordable supply.
- Continued military anti-corruption looms over the meetings after senior officers were dropped from the NPC roster and top general Zhang Youxia was placed under investigation, as Beijing signals steadiness ahead of a possible US presidential visit later in March.