Overview
The annual session of China's national legislature, opening around March 5 each year. The Government Work Report delivered on day one sets the year's GDP growth target, fiscal deficit ratio and policy priorities — the most market-moving policy event for China. Dates are formally set by the NPC Standing Committee in late December (estimated as March 5 until confirmed).
Meeting summary （published 2026-03-13）
China's main development targets for 2026 include GDP growth of 4.5% to 5%, urban employment creation of over 12 million, and consumer price inflation of approximately 2%. The fiscal deficit ratio is set at around 4%, maintaining the prior year level, with deficit size reaching 5.89 trillion yuan, an increase of 230 billion yuan year-over-year. General public budget expenditure is projected to reach 30 trillion yuan for the first time. The government plans to issue 1.3 trillion yuan in ultra-long-term special bonds and 4.4 trillion yuan in local government special bonds. The economic growth target is designed to align with 2035 long-term objectives and is consistent with China's long-term growth potential.