Reference News Network, March 11 report: Brazil's "Sao Paulo Newspaper" website published an article titled "To Understand China's Goals, One Must Go Beyond the Growth Targets Themselves" on March 6. The author is Igor Patrick. The following is a compilation of the article:

The most important political conference in China, the National Two Sessions, opened on the 4th, and the data released during the conference quickly became the focus of global news. The government work report proposed that China's GDP growth target for 2026 is between 4.5% and 5%. Compared to global standards, this growth target is still strong, but it is the result of complex domestic pressures and an unstable international environment.

Data released in the government work report shows that in 2025, China achieved its expected economic growth target of 5%, added 12.67 million new urban jobs, and had an average surveyed urban unemployment rate of 5.2%. It can be seen that external shocks and the rise of trade protectionism are the main factors behind the above-mentioned 2026 economic growth targets.

Faced with difficulties, China is focusing on developing new productive forces, promoting high-quality development, and applying cutting-edge technologies to industries and productive innovation.

Therefore, if readers want to understand the deeper meaning behind China's economic growth targets, they must pay attention to this point. Although the overall forecast is relatively cautious, as long as we thoroughly study the government work report, the development plans formulated by the National Development and Reform Commission, and the annual budget items, we can understand the ambition of the Chinese leadership.

The government has committed to controlling the growth of public debt while still seeking to significantly increase scientific and technological research and development investment. The government's goal is to achieve an annual growth of more than 7% in R&D investment during the 14th Five-Year Plan period, and to have the value added of core digital economy industries account for 12.5% of GDP by 2030.

The funds required for economic transformation will depend on the government's effective mobilization of public resources. The government plans to arrange 755 billion yuan in central budgetary investment and 800 billion yuan in ultra-long-term special treasury bonds to support large-scale strategic projects and strengthen economic security in key areas such as semiconductors and energy.

In addition, China is also increasing expenditures directly related to enhancing national strength, reflecting that China is closely monitoring the increasingly complex geopolitical environment.

In summary, the decisions announced at the National Two Sessions held in Beijing indicate that China has accepted the reality of gradually slowing economic growth and sees this as a step in the process of the economy moving toward maturity. The current top priority is to ensure that future economic growth relies on technological innovation and advanced industrial capacity, and to maintain stronger strategic resilience in an uncertain international environment.

Therefore, merely focusing on the 4.5% to 5% economic growth expectation would be a one-sided interpretation of China's growth goals. Both the Chinese government and enterprises understand that maintaining double-digit growth is unrealistic if they want to build a more self-reliant and strong country capable of facing future challenges.

Although China's economic growth may slow down, its ambitions have not slowed down. (Translation/Wang Meng)

Original: toutiao.com/article/7615899738734330394/

Statement: This article represents the views of the author himself.