Overview

• China's leadership remains optimistic about achieving a 5% GDP growth target for 2024, despite facing significant economic challenges.
• The National Development and Reform Commission asserts the target aligns with China's growth potential and long-term plans.
• Economic analysts express skepticism, highlighting the need for substantial policy support to meet the ambitious goal.
• Beijing plans to stimulate the economy through various measures, including lowering lending costs and boosting domestic demand.
• Experts warn of the potential for increased trade tensions with the West as China focuses on manufacturing and innovation to drive growth.