# debt cycle

China’s Economic Powerhouses Lower 2026 Growth Targets, Pointing to a Softer National Aim

Major Chinese provinces have trimmed their 2026 GDP growth targets, with six of the top ten lowering their goals and Guangdong setting its target below 5% for the first time since 2000. Analysts see the moves as a realistic response to structural limits, debt adjustment and a policy tilt toward quality over quantity, raising the likelihood of a national target in the 4.5–5% range.