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Expert: 4.5%–5% growth target is 'reasonable, necessary and achievable'

By Ouyang Shijia, Zhou Lanxu and Ma Mengmeng | chinadaily.com.cn | Updated: 2026-03-05 09:57
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China setting this year's GDP growth target at between 4.5 percent and 5 percent is both "reasonable, necessary", and the target is also achievable, said Sun Xuegong, director-general of the department of policy study and consultation at the Chinese Academy of Macroeconomic Research.

He told China Perspective during an exclusive interview that the target aligns with China's medium- and long-term development objectives, while leaves room for structural adjustment and higher-quality development. Sun added that China's economic fundamentals remain sound and provide the foundation for achieving this year's growth target.

He said 2026, the opening year of the new five-year plan, will benefit from supportive conditions, including the release of the blueprint for the next five years, which he said would "point the direction" for development over the next five years and help bolster expectations and confidence.

Despite lingering domestic and external challenges, Sun said he believes the economy will maintain stable growth this year. "Both supply-side and demand-side factors provide the conditions for stable economic growth and achieving the target."

On the supply side, he pointed to the rapid development of new quality productive forces and ongoing structural upgrading in traditional industries, alongside an accelerating services sector. On the demand side, he highlighted stronger policy support for consumption and a likely rebound in investment, particularly as major projects planned under the new five-year framework move into implementation.

Exports, after experiencing significant turbulence in global trade, could see a period of relative stabilization, he added.

Liu Yang and Lyu Jinkai contributed to this story

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