China sets ambitious 2024 economic target at national people’s congress

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Premier Li Qiang announced a 5% growth target for China’s economy at the annual National People’s Congress. He acknowledged the country’s economic challenges, including real estate, local government debt, and small and medium financial institutions. Despite official figures indicating a 5.2% GDP growth in 2018, critics argue the real figure could be less than a third of that. Advertisement At the opening of the annual National People’s Congress (NPC) on Tuesday, Premier Li Qiang announced an ambitious growth target of around 5% for this year, outlining a series of measures aimed at boosting China’s flagging economy. Mr. Li acknowledged that...