URGENT: China sets 2024 economic growth target at around 5%

World Economy

China on Tuesday set a gross domestic product growth target of around 5 percent for 2024 at the opening of an annual session of parliament, where measures to support the world’s second-largest economy are expected to be discussed amid its long-running property crisis.

The economic growth goal is the same as the target for 2023. Last year, China’s GDP expanded a real 5.2 percent from 2022 due partly to the previous year’s low baseline caused by the stringent “zero-COVID” policy that involved citywide lockdowns.

Kyodo News

Kyodo News