Chinese Premier Li Qiang announced an economic growth target for 2024.

Chinese Premier Li Qiang announced a target of 5% economic growth for 2024 during the second session of the 14th National People's Congress. The main development targets for the year include a GDP growth of 5%, over 12 million new urban jobs, a 5.5% surveyed urban unemployment rate, a 3% increase in Consumer Price Index (CPI), and growth in personal income with economic growth. Other targets involve a balance of payment equilibrium, over 650 million metric tons of grain output, a 2.5% drop in energy consumption per unit of GDP, and continued environmental improvements. Premier Li Qiang called for localities and government departments to adopt policies that maintain expectations, economic growth, and employment stability, and to actively work on transforming the growth model, making structural adjustments, improving quality, and enhancing performance.

March 05, 2024
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