China to reveal 2024 GDP growth target at National People’s Congress, likely to avoid bold reforms

News Snapshot:

China is set to announce its 2024 growth target and outline its strategy for supporting the slowing economy at the nation’s most high-profile annual political gathering this week. Premier Li Qiang will deliver the government work report for the first time at the National People’s Congress on Tuesday. Officials are looking to chart a recovery after a turbulent year that saw the economy grapple with deflation, an ongoing property crisis, mounting debt burden and foreign capital exodus. Investors will closely scrutinize policy priorities and stimulus signals as Beijing is expected to announce an annual growth target of around 5% —...