Editor's note: Premier Li Qiang delivered the Government Work Report at the opening of the fourth session of the 14th National People's Congress in Beijing on Thursday. Experts shared their views on the report's content, especially the growth target, major strategic tasks including building a robust domestic market, achieving greater self-reliance and strength in science and technology, and expanding high-standard opening-up. Excerpts follow:

Investment cooperation highlighted for new development paradigm

Expanding two-way investment cooperation, highlighted as an aspect of the major tasks for 2026 in the State Council's Government Work Report during China's annual two sessions, underscores the country's commitment to advancing high-standard opening-up in a complex international landscape. This top-level strategic design reflects a clear-sighted assessment of, and proactive response to, the evolving global economic landscape.

From the perspective of attracting foreign investment, China's policy focus has shifted from expanding scale to prioritizing quality. Deepening reform of the institutional framework for promoting foreign investment indicates a shift toward institutional opening-up, moving away from an emphasis on factor flows. The commitment to ensuring national treatment for foreign-funded enterprises directly addresses the concerns of foreign investors, aiming to remove hidden barriers and strengthen policy certainty.

Meanwhile, the implementation of a new edition of the Catalog of Encouraged Industries for Foreign Investment, along with efforts to encourage foreign-funded enterprises to reinvest in the country and expand production locally, demonstrates China's intensified commitment to opening-up, retaining foreign investment, and guiding it toward high-value-added segments such as research, development, and design. Reviving the appeal of the "Invest in China" brand represents a strategic rebranding amid growing global competition for investment, clearly signaling that China remains a favored destination for foreign investment.

From the perspective of Chinese enterprises "going global", the approach has become more prudent and orderly. The goal of guiding the overseas distribution of industry and supply chains in a rational and orderly manner reflects China's recognition of the importance of avoiding reckless expansion and cutthroat competition. Furthermore, it responds to the reality of rising geopolitical risks by committing to improving comprehensive overseas services and doing more to "prevent and control outbound investment risks and protect China's overseas interests". These measures provide multifaceted support for enterprises expanding abroad, which are essential both for protecting corporate interests and safeguarding national economic security.

Taken together, China's vision for a new equilibrium in two-way investment has been articulated: adopting a more proactive approach to bringing in high-quality foreign investment to empower domestic industrial upgrading, alongside a more prudent approach to going global to safeguard overseas interests through robust risk management. The underlying rationale is to leverage the domestic circulation to attract global production factors, while utilizing international circulation to boost the competitiveness of domestic industries — ultimately serving the strategic goal of forging a new development paradigm.

Peng Bo, a researcher at the Chinese Academy of International Trade and Economic Cooperation, the Ministry of Commerce.

A balanced start to the 15th Five-Year Plan

This year's Government Work Report, marking the opening phase of the 15th Five-Year Plan (2026-30) period, sets pragmatic goals and targeted policies. It outlines a coordinated approach that promotes stable growth, improves people's livelihoods, expands openness and strengthens innovation.

The GDP growth target of 4.5 to 5 percent reflects a careful balance between external pressures and domestic development needs, embodying the principle of pursuing progress while ensuring stability. The commitment to creating over 12 million new urban jobs closely links economic growth with improving people's livelihoods, shifting the policy focus from speed alone to high-quality and sustainable development. Employment remains a top priority throughout the year, with policies supporting key groups such as university graduates and migrant workers while also fostering new forms of employment. By stabilizing employment, the report aims to strengthen domestic demand and provide steady support for economic recovery.

Technological innovation and the cultivation of new quality productive forces remain central to the strategy. The report highlights frontier sectors such as integrated circuits, biomedicine, the low-altitude economy and artificial intelligence, while planning ahead for future industries including quantum technology, 6G and advanced energy systems. By linking innovation more closely with industrial development, the report seeks to upgrade China's industrial structure. This approach not only addresses global technological competition but also builds the long-term momentum needed for sustained high-quality growth.

China's commitment to openness also remains firm. The report emphasizes institutional opening-up and greater market access in the services and digital sectors, while continuing to expand multilateral and regional economic cooperation. Rather than resorting to tariff barriers or economic decoupling, China aims to stabilize foreign trade, attract investment and reinforce market confidence through openness. High-quality development of the Belt and Road Initiative will continue, focusing on practical cooperation, project implementation and improved international logistics and supply chain connectivity, helping inject stability into the global economy.

Overall, the report balances stability and progress, combining short-term growth support with long-term structural reform. By strengthening domestic demand while expanding openness, it offers a practical roadmap for China's economic and social development and sends a clear signal of confidence to both the market and the broader public.

Lin Shen, an associate researcher at the Institute of World Economics and Politics, Chinese Academy of Social Sciences.

People's well-being at the center of development

The United Nations Population Fund (UNFPA) welcomes the government's commitment to placing people's well-being at the center of development, strengthening high-quality and inclusive public services, and improving the social security system to better support people and communities.

UNFPA commends measures aimed at supporting young people and couples to create the families they want. These include extending free preschool education, providing housing support for newlyweds and first-time parents, supporting multi-child families in upgrading their housing, and improving maternity insurance and parental leave policies. Building on the introduction of universal national childcare subsidies and other key initiatives in 2025, these family-friendly policies can help address key barriers young people face in starting and raising children, enabling people to have the number of children they wish to have and supporting families to thrive.

UNFPA further welcomes initiatives to support older persons and promote the development of the silver economy, such as expanding long-term care systems, integrating medical and elderly care services, and strengthening support for older persons, alongside improved services for persons with disabilities. Policies that enable older persons to remain healthy, active and engaged, including through age-friendly and barrier-free environments, can help societies realize a longevity dividend as populations age.

The continued focus on strengthening health systems – including improving reproductive, maternal and women's health services, preventing and treating birth defects, and expanding mental health services – is also encouraging. Investments in community-level health institutions and stronger primary health care systems will help ensure that essential services reach families and communities where they are most needed.

UNFPA remains committed to working with the government and partners to support policies and programmes that promote health, gender equality and well-being across the life course, helping societies adapt to demographic change while ensuring that all people can reach their full potential.

Nadia Rasheed, representative of the United Nations Population Fund (UNFPA) to China.

Growth, reform, and policy precision in China's 2026 agenda

China's 2026 economic growth target marks a subtle but significant shift. For years, the benchmark was "around 5 percent". This year, it is presented as a range: 4.5-5 percent. Far from a retreat, this reflects realism and precision.

At China's scale, even a 5 percent growth rate produces an immense absolute increase. Advanced economies at a comparable stage of development often slow down to 2-3 percent. Maintaining growth near 5 percent over the long term is therefore no small feat.

The range also provides policy flexibility. The government emphasizes striving for the best outcomes within this band. Judging by current fundamentals and policy orientation, actual growth is likely to fall closer to the upper limit, around 4.8-5 percent. Sustaining such growth is made possible through ongoing structural reforms, cultivation of new economic drivers, and targeted industrial optimization. This approach has effectively delayed the transition from medium-high to low growth. In global terms, China's growth corridor remains comparatively strong.

The 2026 Government Work Report also demonstrates enhanced policy targeting. On the industrial side, it sets out clear paths for optimizing sectoral layouts, adjusting regional structures, and promoting strategic emerging and future industries, while guiding traditional industries through transformation and upgrading. In the social sphere, pressing concerns — healthcare, education, social security, housing, and property management — receive clear reform directions and operational priorities. The report not only outlines principles but signals concrete policies, helping to stabilize expectations and guide action. Across both economic and social dimensions, it exhibits coherence and practical responsiveness.

A third defining feature is reform as a consistent thread. Whether addressing marketization of data, innovation in digital governance and regulation, or institutional arrangements for scaling future industries and upgrading traditional sectors, reform is the guiding principle. In public services, it emphasizes solving systemic challenges — optimizing healthcare delivery, improving education resource allocation, enhancing social security, and reforming housing systems. Reform is not an abstract slogan but a tool for problem-solving and development. This orientation reflects a systematic governance logic: attention to economic fundamentals and energy transition, paired with institutional and governance optimization; nurturing emerging industries while upgrading established sectors; promoting high-quality growth while addressing social equity and well-being. It is a practical application of dialectical thinking, balancing economic structure with institutional frameworks, and managing the transition from old to new growth drivers. In short, China's 2026 agenda exemplifies precision, reform, and forward-looking policy design.

China's approach this year demonstrates that careful target-setting, precise policy, and persistent reform can sustain growth at a high level while addressing both economic and social imperatives.

Hu Qimu, chief researcher of the Digital Economy Think Tank.

The views don't necessarily reflect those of China Daily.

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