China's economy has demonstrated notable resilience over the past year, according to a government work report submitted on March 5 to the country's top legislature for deliberation.

Here are some highlights from the report.

2025 in review

GDP grew 5 percent year-on-year.

12.67 million urban jobs were created.

Grain output reached 715 million metric tons.

Annual output of new-energy vehicles exceeded 16 million units.

During 14th Five-Year Plan period (2021-25)

Average annual GDP growth was 5.4 percent.

China's manufacturing sector has led the world in added value for the past 16 years.

Per capita disposable income increased at an average annual rate of 5.4 percent.

More than 60 million urban jobs were created.

Targets for 15th Five-Year Plan period (2026-30)

GDP continues to grow within an appropriate range.

Nationwide R&D spending increases by an average of at least 7 percent annually.

Carbon dioxide emissions per unit of GDP decrease by a total of 17 percent.

The added value of core digital economy industries rises to 12.5 percent of GDP.

Average years of schooling among the working-age population increases to 11.7.

Life expectancy rises to 80 years.

Overall grain production capacity reaches around 725 million metric tons.

Overall energy production capacity reaches the equivalent of 5.8 billion metric tons of standard coal.

2026 economic and social development targets

GDP growth of 4.5 to 5 percent.

More than 12 million new urban jobs.

Consumer price index increase of around 2 percent.

Grain output of around 700 million metric tons.

A reduction of around 3.8 percent in carbon dioxide emissions per unit of GDP.

The deficit-to-GDP ratio at around 4 percent, with the government deficit 230 billion yuan ($33 billion) higher than last year.

General public budget expenditure projected to reach 30 trillion yuan.

Issuance of 1.3 trillion yuan in ultra-long special treasury bonds.

Issuance of 4.4 trillion yuan in local government special-purpose bonds.

Major tasks for 2026

Income growth: Formulate and implement an income growth plan for urban and rural residents, and roll out practical measures to boost the earnings of low-income groups, increase property income, and refine remuneration and social security systems.

Consumption: Allocate 250 billion yuan in ultra-long special treasury bonds for consumer goods trade-in programs.

Investment: Allocate 755 billion yuan in the central government budget for investment, and earmark 800 billion yuan raised from ultra-long special treasury bonds to implement major national strategies and enhance security capacity in key areas.

New quality productive forces: Foster emerging pillar industries such as integrated circuits, aviation and aerospace, biomedicine, and the low-altitude economy. Nurture industries of the future, such as future energy, quantum technology, embodied AI, brain-computer interfaces, and 6G technology, while advancing and expanding the AI Plus Initiative.

Unified national market: Address rat race competition through a full range of measures, including production regulation, standard-based guidance, pricing law enforcement, and quality supervision.

Opening-up: Further expand opening-up trials for value-added telecom services, biotechnology, wholly foreign-owned hospitals, and other fields.

Rural revitalization: Conduct province-wide trials on extending rural land contracts by another 30 years upon the expiration of the current second-round contracts, and carry out the fourth national agricultural census.

Urbanization: Take well-conceived and systematic measures to grant permanent urban residency to people who move to cities from rural areas, and ease relevant eligibility standards so that more children of rural migrant workers can take high school entrance examinations in their current place of residence.

Employment: Strengthen policy support for employment, foster an employment-friendly growth model, and implement initiatives to create more stable, higher-quality job opportunities.

Education: Refine policies on free preschool education and increase the supply of regular senior secondary school slots.

Healthcare: Raise government subsidies for basic medical insurance for rural and non-working urban residents by 24 yuan per person.

Social security: Raise minimum basic old-age benefits for rural and non-working urban residents by 20 yuan per month. Increase housing support for first-time married couples and those welcoming their first child, and help families with children secure better housing.

Green development: Establish a national fund for low-carbon transition and foster new growth drivers such as hydrogen power and green fuels.

Real estate: Introduce city-specific policies to control the number of new real estate projects, reduce housing inventory, improve supply, and explore various avenues for utilizing commodity housing stock.

Source: Xinhua