China has set its lowest official economic growth target in more than three decades, signaling caution about the country’s economic outlook amid global uncertainty and domestic challenges.
The Chinese government announced a growth target of around 3 percent for the coming year during the annual meeting of the National People’s Congress in Beijing.
It is the lowest target set since 1991, reflecting concerns about slowing demand, a struggling property sector and weaker global trade.
Chinese leaders said the goal reflects a realistic assessment of economic conditions and emphasized the need to prioritize stability while supporting employment and industrial development.
Officials also outlined plans to boost consumption, invest in high-technology sectors and strengthen domestic supply chains.
At the same time, policymakers signaled continued support for the housing market and local governments facing debt pressures.
China’s economy has faced mounting headwinds in recent years, including declining exports, demographic changes and weaker private investment.
Economists say the lower target suggests Beijing is shifting toward a more cautious growth strategy while trying to avoid large stimulus measures.
