China’s key NPC meeting concludes as lower growth target set | Political news

The approval of China’s 15th Five Year Plan by the National People’s Congress indicates a firm stand against corruption.

China’s annual legislative session is winding down after setting the country’s slowest economic growth target in nearly 30 years, except during the COVID-19 global pandemic.

Some 3,000 delegates attending the National People’s Congress (NPC) are expected to formally approve the “4.5 to 5 percent” economic growth target in China’s latest five-year plan on Thursday.

The 15th iteration of the Five Year Plan, the economic roadmap for 2026 to 2030, also set targets for inflation, fiscal deficit ratio and urban unemployment.

China has a long-term goal of becoming a “middle developed” country by 2035 and raising its gross domestic product (GDP) to $20,000 per capita. According to the World Bank, this number was $13,303 in 2024.

Planners in Beijing continue to grapple with deep economic problems driven by a slumping property sector, low consumer confidence and prolonged deflation.

China’s goals for the next five years include industrial self-reliance and greater state support for industries such as AI, aerospace, aviation, biomedicine and integrated circuits, as well as “future energy, quantum technology, embodied artificial intelligence, brain-computer interfaces and 6G technology”.

According to the Reuters news agency, Beijing aims to expand the use of the digital yuan, known as e-CNY, to improve cross-border payments. The digital currency is currently being developed by the People’s Bank of China, the country’s central bank.

Among the most closely watched aspects of the NPC over the past week has been the release of government “work reports” by China’s many government ministries, which provide insight into China’s progress in meeting its goals and its future policy direction.

China will soon pass a law to deal with cross-border corruption as the Standing Committee of the NPC released a work report, Xinhua said.

The move is seen as an extension of Chinese President Xi Jinping’s long-running anti-corruption drive across the Chinese state, military and private sector.

The campaign is gaining momentum as China’s highest court, the Supreme People’s Court, reports a 22.4 percent increase in corruption cases involving 36,000 individuals last year, according to Xinhua.

The state recovered 18.14 billion yuan ($2.63 billion) in 2025 as part of an anti-corruption crackdown, Xinhua said.

China’s military has identified the fight against corruption as a key goal in its annual work report, as well as ensuring political loyalty to Xi and the Chinese Communist Party.

The NPC usually lasts for a week and is held in conjunction with the Chinese People’s Political Consultative Conference, a political advisory body.

The meetings are called “two sessions” and they bring thousands of delegates to Beijing to approve short- and medium-term policy measures.