China Plans Around 5% Growth Goal, Higher Deficit, Reuters Says
- Reported targets in line with forecasts after stimulus signal
- Beijing seen to step up growth support depending on trade war
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Chinese leaders plan to set an annual growth goal of about 5% for next year and raise the budget deficit to 4% of gross domestic product, Reuters reported, citing two people it didn’t identify.
The report comes days after top leaders including President Xi Jinping wrapped a yearly economic conference in Beijing, where they were expected to set goals for 2025. Specific targets will only be officially announced at a parliamentary huddle in March, if the leadership sticks to precedent.