Chinese Economy Shows Strong Resilience at Two Sessions 2026

China's economy has demonstrated remarkable resilience over the past year, underscored in the 2026 government work report presented during the opening of the fourth session of the 14th National People's Congress. The report highlights key achievements that mark significant socio-economic development amidst global uncertainties.

Premier Li Qiang delivered the report, noting a year-on-year GDP growth of 5%, which brought the total GDP to 140.19 trillion yuan, equivalent to approximately 20.03 trillion US dollars. This growth is a testament to China's steady economic trajectory.

In 2025, the job market remained stable, with 12.67 million new positions created in urban areas, resulting in an average urban surveyed unemployment rate of 5.2%. These figures reflect China's commitment to enhancing employment opportunities and economic stability.

The report also highlighted a significant increase in grain production, reaching 714.88 million tons. This achievement not only showcases agricultural resilience but also supports national food security initiatives.

China's foreign trade has been on an upward trajectory, with exports growing by 6.1%. Additionally, the number of newly established foreign-invested enterprises surged by 19.1%, indicating a strong international confidence in the Chinese market.

The government initiative of free preschool education has benefitted approximately 14 million children, marking a notable advancement in social welfare policies aimed at nurturing future generations.

Tourism has experienced a significant rebound, with domestic tourist numbers rising by 16.2% and inbound tourists increasing by 17.1%. This resurgence illustrates the gradual return of consumer confidence and travel activity.

The industrial landscape has also improved, with high-tech manufacturing's added value increasing by 9.4%. Furthermore, energy efficiency measures have made strides, as evidenced by a 5.1% reduction in energy consumption per unit of GDP.

Significantly, the production of new energy vehicles surpassed 16 million units, and the total number of charging facilities for electric vehicles exceeded 20 million, highlighting China's commitment to green technology and sustainable development.

China's science and technology sector saw its ranking in the Global Innovation Index rise to 10th place, with research and development investments exceeding 3.92 trillion yuan and an R&D intensity of 2.8%. This commitment to innovation is crucial for driving future economic growth.

Li Lecheng, the Minister of Industry and Information Technology, reported that the added value of the industrial sector reached 41.7 trillion yuan, accounting for 35% of the overall economic growth, with the AI industry growing into a significant sector valued at over 1.2 trillion yuan.