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Premier Li Qiang Delivers Government Work Report: Focusing on Green Development, Establishing Low-Carbon Fund to Foster New Growth Drivers
Release time:
Mar 06,2026
On March 5th, Premier Li Qiang delivered the Government Work Report to the Fourth Session of the 14th National People's Congress, comprehensively reviewing past work, clarifying future goals and tasks, and charting the course for development in 2026 and the 15th Five-Year Plan period.
The report reviewed the achievements of 2025 and the past five years. In 2025, the gross domestic product (GDP) grew by 5 percent, 12.67 million new urban jobs were added, and the annual production of new energy vehicles exceeded 16 million units. Over the past five years, the GDP has grown at an average annual rate of 5.4 percent, and the scale of manufacturing value-added has ranked first globally for 16 consecutive years.
During the 15th Five-Year Plan period, China has set major goals and tasks, including maintaining GDP growth within a reasonable range, increasing investment in research and experimental development by an average annual rate of over 7 percent, and reducing carbon dioxide emissions per unit of GDP by a cumulative 17 percent.
Specific requirements for economic and social development in 2026 include targeting an economic growth rate of 4.5 to 5 percent, creating over 12 million new urban jobs, and reducing carbon dioxide emissions per unit of GDP by approximately 3.8 percent.
Among the tasks outlined for 2026, green development stands out. The report proposes establishing a national low-carbon transition fund, cultivating new growth drivers such as hydrogen energy and green fuels, strictly controlling high-energy-consumption and high-emission projects, accelerating the phase-out of outdated production capacities, supporting the innovation and application of green and low-carbon technologies and equipment, and improving systems for resource management and circular utilization.
Additionally, the report covers work arrangements in various other areas. In terms of income growth, plans include formulating and implementing an income increase plan for urban and rural residents. In the consumer sector, ultra-long special treasury bonds will be arranged to support consumer goods trade-in programs. For investment, 755 billion yuan from the central budget is planned for major national strategies and security capacity building. In the realm of new quality productive forces, efforts will focus on building emerging pillar industries and cultivating future industries. Pragmatic measures are also outlined for employment, education, healthcare, and social security, such as implementing actions to stabilize and expand employment, improving policies for free preschool education, and increasing the annual per capita government subsidy for resident health insurance.
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