4th Session of 14th NPC Opens: Premier Li Qiang Presents Adjusted Economic Targets and Increased Deficit Plan

Published: Mar 6, 2026 15:01

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The Fourth Session of the 14th National People’s Congress opened at the Great Hall of the People, where Premier Li Qiang of the State Council delivered the government work report, with multiple details adjusted. The economic growth target became more pragmatic, lowered from “around 5” to 4.5–5.0. In terms of incremental funding, the deficit-to-GDP ratio for 2026 was 4, with a deficit 규모 of 5.89 trillion yuan, an increase of 230 billion yuan YoY.

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