China Can Reach 5% Growth Rate in 2024, Ex-PBOC Official Says
- Sheng sees signs the economy may keep improving gradually
- Beijing also likely to be cautious about cutting rates: Sheng
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China’s economy needs to grow by about 5% in 2024 to signal that the nation’s development is stable and healthy, a former Chinese central bank official said.
“An around 5% growth next year is necessary for China, and it is possible to achieve,” said Sheng Songcheng, a former director of the People’s Bank of China’s statistics and analysis department, in an interview.