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China sets GDP target of ‘around 5%’ for 2024

2024-03-05 09:31:35       source:CNBC

March 4, 2024

BEIJING — China set a growth target of “around 5%” for 2024, according to the “Government Work Report” released Tuesday.

The targets for GDP and other economic indicators were published as part of the opening of the National People’s Congress annual meeting.

Last year China’s economy grew by 5.2%, matching the official target of around 5%. The overall rebound from the pandemic was slower than many expected, while growth also faced drags from a slump in real estate and exports.

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