share on
- China will expand high-quality employment and accelerate large‑scale vocational skills training to support emerging and future industries.
- Demographic challenges will be addressed through policies aimed at creating a more birth‑friendly environment.
- Technological self‑reliance is a core priority, with strengthened investment in key technologies and innovation capabilities.
The fourth session of the 14th National People's Congress (NPC), China's top legislature, opened on 5 March 2026 (Thursday) at 9am at the Great Hall of the People in Beijing.
With President Xi Jinping and other Party and state leaders in attendance, Premier Li Qiang delivered the government work report, outlining the country’s development targets and priorities.
According to the report, China's 2026 key targeted goals include:
- Economic growth: 4.5%-5%
- Surveyed urban unemployment rate: Around 5.5%, with more than 12mn new urban jobs
- Income growth: Residents’ personal income to rise in line with economic growth
- Carbon reduction: A 3.8% drop in CO₂ emissions per unit of GDP
Ahead of the opening, Lou Qinjian, spokesperson for the fourth session of the 14th NPC, said at the press conference held on 4 March 2026 that the central government will introduce further policies and measures benefiting Hong Kong under the 15th Five-Year Plan (2026-2030), supporting the SAR in leveraging its unique advantages and important role in national development.
The session will run for eight days and conclude on 12 March 2026, with 11 agenda items. Below are some highlights most relevant to HR and business leaders.
Strengthening the real economy
China will continue to focus on the development of the real economy, accelerate the development of new productive forces, and build a modern industrial system with advanced manufacturing as its core.
This includes upgrading traditional industries, expanding emerging and future industries, advancing high-quality service industries, and investing in modern infrastructure.
Boosting high-level technological self-reliance
China will continue to strengthen its innovation and key core technology capabilities, and intensify efforts to build international technological innovation centers in Beijing (Beijing-Tianjin-Hebei Region), Shanghai (Yangtze River Delta) and the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area).
Priorities also include deepening industry-technology integration, and developing a stronger pipeline of science and technology talent through education.
Enhancing digital and intelligent development
The central government will expand “AI Plus” initiatives, promoting wider AI adoption across public services, industry, culture, livelihood, and social governance.
Measures to ensure a safe, fair, and healthy development environment include strengthening the data governance framework, enhancing AI governance, and expanding international cooperation in the digital and intelligent spheres.
Building a strong domestic market
China aims to expand domestic demand by stimulating consumption and increasing effective investment. A more stable internal economic cycle could support business planning and market strategies.
Expanding high-level opening-up
Believing in “open cooperation to achieve mutual benefit”, China will:
- Further expand market access for the services sector and implement pilot programmes in areas such as value-added telecommunications, biotechnology, and foreign-owned hospitals
- Sign more regional / bilateral trade and investment agreements
- Expand cross-border RMB use
- Promote investment cooperation and guarantee national treatment for foreign enterprises
- Advance Belt & Road cooperation
Improving population development strategy
To address demographic challenges and support long-term balanced population development, China will:
- Build a more birth-friendly environment by optimising childbirth support through various economic and social policies, including improving maternity insurance and leave policies, strengthening childcare services, promoting the application of assisted reproductive technology in a regulated and orderly manner, and directing housing policies in favor of families with two or more children
- Continue building a high-quality education system to cultivate future talent
- Improve the health level of the people by implementaing a health-first strategy, shifting from disease treatment to health promotion, and building a high-quality medical service system
Promoting employment
Li emphasised the government will focus on promoting high-quality and full employment by expanding policy support, which includes:
- Continuing job retention subsidies, social security subsidies, and special loans
- Growing new occupations in emerging and future industries
- Strengthening youth employment support
- Strengthening employment assistance for disadvantaged groups
- Introducing policies that support flexible workers and those in new forms of employment in joining employee insurance schemes
- Enhancing protections against employment discrimination
- Expanding large-scale vocational and skills training
Strengthening people's livelihood and wellbeing
Safeguarding and continuously improving people’s livelihoods and wellbeing is also a priority. Key measures include:
- Improving the income distribution system
- Increasing the minimum monthly Basic Pension for Urban and Rural Residents (URRP) by RMB20
- Expanding unemployment and work injury insurance
- Nationwide implementation of personal pension plans
- Rolling out paid staggered leave systems for employees
- Supporting women development
- Promoting gender equality and protecting rights of women, minors, youth, and persons with disabilities
Advancing green and low-carbon development
China will intensify energy conservation and carbon reduction policies in key industries, encouraging whole-of-society participation with incentives to accelerate green production and green lifestyles.
Boosting the cultural economy
Proactive policies will support cultural industries and integrated cultural tourism.
Ensuring the long-term prosperity and stability of Hong Kong and Macao
The central government will continue upholding “one country, two systems”, “Hong Kong people governing Hong Kong”, “Macao people governing Macao”, and a high degree of autonomy, while implementing the principle of patriots administering the two SARs.
Governance effectiveness will be enhanced to promote economic and social development, supporting Hong Kong and Macao in integrating into national development, making full use of their unique advantages, and safeguarding long‑term prosperity and stability.
Photo / Xinhua
ALSO READ: Hong Kong 2026-2027 Budget: What matters most for HR, businesses, and the workforce
share on
