Xi Says China’s 2024 GDP Growth Set to Hit Target of Around 5%
- Top leader says economy, employment and prices overall stable
- No year-end RRR cut as PBOC previously floated as possible
This article is for subscribers only.
China’s gross domestic product is expected to expand around 5% for the full year of 2024, President Xi Jinping said, signaling the world’s second-largest economy is on track to meet its official target.
China’s economy was “overall stable and progressing amid stability,” Xi said at a new year event on Tuesday, according to a speech published by the official Xinhua News Agency. Risks in key areas were effectively addressed, while employment and prices remained steady, he said.