China Targets 5% GDP Growth Amid Economic Challenges

Beijing sets an ambitious 5% GDP growth goal for 2024, facing headwinds from deflationary risks and a prolonged property market downturn.

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.