China Politburo Raises Expectations for Ambitious 2024 GDP Goal
- Beijing vows targeted - no longer ‘forceful’ - monetary policy
- Property crisis, weak confidence weighed on economy this year
Xi Jinping
Source: Bloomberg
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China’s top leaders pledged to strengthen fiscal support and emphasized the importance of economic “progress” at a meeting Friday that supported economists’ expectations for a growth goal of around 5% for next year.
The Politburo, comprising the ruling Communist Party’s top 24 officials and chaired by President Xi Jinping, announced after the gathering that fiscal policy will be stepped up “appropriately,” the official Xinhua News Agency reported.