National People's Congress: China sets ambitious 2024 economic target - BBC News

The announcement comes as the ruling Communist Party tries to reinvigorate the Chinese economy.

10 hours agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Premier Li Qiang spoke at the opening of the annual National People's Congress (NPC) on TuesdayBy Peter HoskinsBusiness reporterChina has set an ambitious growth target of around 5% for this year, as it outlined a series of measures aimed at boosting its flagging economy.

Premier Li Qiang made the announcement at the opening of the annual National People's Congress (NPC) on Tuesday.

Mr Li acknowledged that China's economic performance had faced "difficulties", adding that many of these had "yet to be resolved".

It comes as China struggles to reinvigorate its once-booming economy.

"Risks and potential dangers in real estate, local government debt, and small and medium financial institutions were acute in some areas," he said. "Under these circumstances, we faced considerably more dilemmas in making policy decisions and doing our work."

https://www.bbc.co.uk/news/business-68271274

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