Display mode (Doesn't show in master page preview)

5 Mar 2024

International Economy

China sets its 2024 GDP growth target at 5% while keeping its 3% fiscal deficit unchanged at the NPC and CPPCC sessions (Business Brief No.4041)


  • China announced its economic growth target of 5 percent for this year, in line with market expectations, at the meeting of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC).
  • China’s troubled property sector is among the challenges in achieving the growth target of around 5 percent. KResearch projects that the Chinese economy will expand by 4.5 percent YoY in 2024, driven by further implementation of monetary and fiscal policy easing.
  • China’s economic growth model and strategic emerging industries are issues to be monitored. Meanwhile, the country’s foreign policy direction is expected to remain unchanged.

International Economy