China’s provincial-level governments have unveiled their GDP targets for this year during the annual meetings of provincial-level legislatures, which take place before the national session in early March, which will announce the national GDP growth target.
Beijing has set a 5% GDP growth target for 2026, while aiming for an average annual growth of 4.5% to 5% for the 2026-30 period. Guangdong, China’s largest provincial economy, expects a growth of between 4.5% and 5% in 2026, and an average annual growth of around 5% in the coming five years. Zhejiang, another manufacturing heartland in East China, aims for 5% to 5.5% GDP growth in 2026. Hainan, which launched island-wide special customs operations in the Hainan Free Trade Port on December 18, has set a relatively higher GDP growth target for 2026 at around 6%, while the Tibet Autonomous Region is aiming for more than 7% in 2026. Beyond these headline figures, local government work reports feature buzzwords such as strengthening scientific and technological innovation, building a modern industrial system, and boosting service industries and consumption, reflecting key policy priorities for cultivating new drivers of economic growth.
Boosting domestic demand and building a robust domestic market have been prioritized in 2026 during the Central Economic Work Conference (CEWC), and local governments have responded with concrete policy measures in their latest work reports. Upgrading consumption, unlocking the potential of service consumption and cultivating new growth areas are among the key focuses. Beijing’s 2026 blueprint commits to boosting policy support for education, healthcare, eldercare and childcare services, while encouraging digital platforms to innovate in home service offerings. Other regions have emphasized the potential of their signature industries, such as marine tourism and the ice-and-snow economy, to stimulate consumption and drive new demand. Hainan announced plans for a 2026 “Marine Tourism Year” to boost tourism related to the ocean, aerospace and tropical rainforests, aiming for an 8% increase in total tourist visits and a substantial rise in inbound travelers.
Beijing has pledged to fully implement the “AI Plus” initiative and establish a national artificial intelligence application pilot base in 2026. According to the plan, the city will nurture a “world-leading AI industrial ecosystem,” develop a set of industry-leading large models, and improve the AI standards system and application guidelines. The plan also sets the city’s spending on research and development (R&D) at over 6% of GDP between 2026 and 2030. Zhejiang, home to leading AI companies such as DeepSeek and Alibaba’s Qwen, has pledged to expand AI application scenarios. The province aims for more than 20% revenue growth in its core AI industry, projecting over CNY800 billion in 2026. Guangdong plans to accelerate the upgrading of traditional sectors like electronics and machinery, aiming to build resilient industrial clusters with strong consumer brands in fields like home appliances and furniture, the China Daily reports.
