Premier Li Qiang gave the government’s work report for the past year and indicated the way forward for the coming period. He said that China would aim for a growth rate of 5% in the coming year, having reached 4.5% in 2025. China would keep the growth-rate in that range during the coming five-year plan. It would do so by a determined push in science and technology, keeping the R&D budget at 7% annually up until 2030. He said the R&D budget could even grow by 10% this year. Military spending will increase by 7% this year, he indicated.
Beijing will foster and strengthen emerging industries in 2026, with special attention on new energy, quantum technologies, artificial intelligence, brain-computer interfaces, and 6G technology, Li said, in order to reach the goal of greater self-reliance and strength in science and technology in 2026. The government will also take measures to boost consumer spending and to further open up to investment from abroad.
