China Sets Lowest Economic Growth Target Since 1990s, Flags Exceptionally ‘Grave And Complex’ Challenges

China has set its economic growth target at 4.5-5% in 2026, marking the lowest level since Beijing first started publishing such figures in the early 1990s. Li Qiang Flags Tough Economic Climate At the opening session of this year’s meeting of the National People’s Congress on Thursday, Chinese Premier Li Qiang described the current situation as exceptionally “grave and complex,” with external shocks, domestic challenges, and difficult policy decisions all intertwined. China’s overall growth has slowed due to a prolonged property slump, weak investment and consumption, and deflation, leading the government to adopt its most conservative outlook since early 2020…