十四届全国人大四次会议在京开幕，2026年经济增长目标4.5%-5%

Economic Outlook - The economic growth target for 2026 is set at 4.5%-5%[3] - The urban unemployment rate is projected to be around 5.5% with over 12 million new jobs expected[3] Fiscal Policy - The fiscal deficit is planned at 4% of GDP, amounting to 5.89 trillion yuan, an increase of 230 billion yuan from the previous year[4] - General public budget expenditure is expected to reach 30 trillion yuan, up approximately 1.27 trillion yuan from last year[4] Monetary Policy - A moderately loose monetary policy will be maintained, with a focus on stabilizing economic growth and ensuring reasonable price recovery[5] - The central bank conducted a 230 billion yuan reverse repurchase operation at a rate of 1.40%[11] Bond Market - The yield on the 10-year government bond decreased by 0.20 basis points to 1.7850%[15] - The bond market saw a mixed performance with a slight weakening followed by a recovery towards the end of the trading day[15] International Market Trends - U.S. Treasury yields rose, with the 2-year yield increasing by 3 basis points to 3.57% and the 10-year yield up by 4 basis points to 4.12%[22] - Major European economies also experienced significant increases in 10-year bond yields, with Germany's yield rising by 10 basis points to 2.85%[26]