Economic Growth Targets - As of February 4, 2026, 30 provinces have set a GDP weighted growth target of 5.03%, down by 0.22 percentage points from the previous year[3] - The GDP growth target for 2026 is expected to be set between 4.5% and 5% nationally, reflecting a downward trend in growth expectations[16] - 17 provinces have lowered their GDP targets, while only Jiangxi has increased its target to a range of 5.0%-5.5%[3] Investment Focus - The fixed asset investment (FAI) growth target for 2026 is down by 0.5 percentage points compared to 2025, with 15 provinces reporting their targets[4] - Emphasis is placed on increasing investments in technology and infrastructure, particularly in transportation, energy, and new types of infrastructure[19] - Local governments are encouraged to support private investment, with specific measures to enhance participation in major projects[23] Consumer Spending - The social retail sales (SRS) growth target for 2026 is down by 0.2 percentage points, with 16 provinces reporting their targets[5] - There is a strong focus on developing service consumption and enhancing residents' income through various initiatives, including vocational training and social security improvements[27] - Local governments are promoting new consumption scenarios and improving service quality to stimulate consumer spending[26] Research and Development - Many provinces are increasing their R&D investment intensity, with Shanghai raising its target from 4.5% to 4.6% of GDP for 2026[7] - Jiangxi aims for an R&D investment intensity of approximately 2.09% for the first time, indicating a shift towards innovation-driven growth[7] Inflation and Employment - The Consumer Price Index (CPI) target remains stable at around 2%, consistent with the previous year[6] - The unemployment rate target is generally set around 5.5%, with major cities like Beijing and Shanghai aiming for below 5%[7]