China sets 5% economic growth goal for 2024

Source：CHINA SPORTING GOODS FEDERATIONRelease time：2024-03-15Clicks：

Article From：fibre2fashion

China has set an economic growth target of approximately 5 per cent for 2024, according to a government work report that was recently submitted for review to the country's national legislature. The report outlines China’s plans to create more than 12 million jobs in urban areas while aiming to maintain the surveyed urban unemployment rate at an estimated 5.5 per cent for the year.

To achieve these objectives, China plans to adhere to proactive fiscal strategies and prudent monetary policies. Notably, the deficit-to-GDP ratio is projected to be at 3 per cent in 2024, marking an increase of 180 billion yuan ($25 billion) in the government deficit compared to the 2023 budget figures, according to Chinese media reports.