Several Chinese provinces scaled back their economic ambitions for 2026 amid a national downturn.
Only one of the country’s 31 regions set a higher target than in 2025, while 14 set lower ones, and many forecast reduced investment and consumption.
It is a strong indicator that the national government will do likewise, Trivium China analysts reported, and set a national target below its “around 5%” goal of recent years.
The 5% figure has become a “political straitjacket,” The Wall Street Journal’s chief China correspondent argued: Chinese authorities have consistently reported growth around that level, a “statistical miracle” given the country’s economic woes. Chasing it has forced China into spending that has trapped local governments under a mountain of debt, she wrote.
