Editor's note: Premier Li Qiang delivered the 2026 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:

Pursuing progress while ensuring stability, driving the future through innovation

China's 2026 government work report, framed within the broader goal of high-quality development, sets out clear priorities for the country's economic and social progress. It conveys a strong policy orientation of pursuing progress while maintaining stability, promoting stability through progress, and establishing before breaking, offering both a roadmap and practical guidance for sustaining economic momentum and strengthening technological self-reliance.

The report outlines pragmatic and steady economic targets, reflecting confidence and strategic composure. The projected annual growth rate of 4.5 to 5 percent aligns with China's long-term development strategy while balancing key priorities such as employment, price stability and environmental protection. This approach underscores the integration of growth and quality, development and security. Among the policy priorities, building a strong domestic market is placed at the forefront, with greater emphasis on demand-driven growth. This strategy responds to an increasingly uncertain global environment while addressing the current structural imbalance between strong supply capacity and relatively weak domestic demand, creating space for economic restructuring and new growth drivers.

Innovation is placed at the center of the development agenda, with emerging industries expected to accelerate growth momentum. The report identifies scientific and technological innovation as the core engine of high-quality development and emphasizes strengthening the real economy. Key sectors — including integrated circuits, aerospace, biomedicine and the low-altitude economy — are highlighted as emerging pillars, while future industries such as advanced energy, quantum technology, embodied intelligence, brain-computer interfaces and 6G communications are also mapped out. The expansion of "AI Plus" applications, stronger support for enterprises as the main drivers of innovation, and efforts to scale up technological breakthroughs all aim to deepen the integration of innovation, industry, finance and talent, injecting sustained dynamism into economic transformation.

Ensuring stability while seeking progress will consolidate the foundations of development, while innovation will open new horizons. As 2026 marks the opening year of the 15th Five-Year Plan period, the report stabilizes expectations through realistic targets and unlocks new momentum through forward-looking innovation strategies. Together, these measures will help China enhance quality and efficiency during economic transformation, maintain steady progress through greater openness and cooperation, and lay a solid foundation for building a modern socialist country in the years ahead.

Fan Xin, deputy head at the School of Economics, Renmin University of China.