China Sets Lowest Growth Target Since 1991 as Old Model Falters
A conservative growth target would reduce the prospects of forceful stimulus.
Photographer: Qu Honglun/China News Service/VCG/Getty Images
China set its most modest growth target since 1991, a tacit acknowledgment that the model powering the country’s economic rise is showing strains.
The goal — a range of 4.5% to 5% — is the first formal downgrade since 2023. Widely anticipated by economists, it signals Beijing’s tolerance of a slower pace of expansion while it searches for new sustainable sources of growth.