China’s 2024 GDP target attainable only by major actions: analysts
Beijing will issue a spree of special-purpose bonds in order to help meet the ambitious GDP target, but more reforms are likely needed to boost output.
Tekef
March 19, 2024
The Chinese government’s GDP growth target of 5% for this year is aggressive, ahead of the forecast of several analysts. To meet that target, the Chinese government will have to undertake major actions including issuing large amounts of bonds, according to several experts speaking to FinanceAsia.
The GDP growth target of 5% was announced at the annual “Two Sessions” of the National People’s Congress NPC, China’s parliament, and the Chinese People’s Political Consultative Conference CPPCC, which was held in Beijing from March 4 to 11. China’s GDP growth target of 5% in 2024 is slightly lower than its GDP growth of 5.2% in 2023 and 2022.
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