China Sets Aggressive, Economic Growth , Target for 2024.<br />Associated Press reports that China has <br />said it aims to achieve 5% economic growth <br />in 2024, despite facing many challenges.<br />Premier Li Qiang outlined plans to boost <br />China's economy while addressing the annual <br />session of the National People's Congress.<br />Premier Li Qiang outlined plans to boost <br />China's economy while addressing the annual <br />session of the National People's Congress.<br />The plan includes increased spending on <br />developing advanced technology, fortifying <br />the military and other longstanding goals.<br />According to Li, the Chineses government <br />would continue with a "pro-active fiscal <br />policy and prudent monetary policy.”.<br />The plan looks to boost growth by issuing <br />long-term bonds over several years, <br />beginning with about $139 billion in 2024.<br />Those bonds would be used to <br />implement "major national strategies" <br />and boost security "in key areas.".<br />The plans also include a "new development model" <br />aimed at easing a prolonged real estate slump <br />by building government-subsidized housing.<br />The foundation for China’s sustained <br />economic recovery is not yet stable, <br />with insufficient effective demand, <br />overcapacity in some industries, <br />weak social expectations, and still <br />many risks and hidden dangers, Li Qiang, Chinese Premier, via Associated Press.<br />The foundation for China’s sustained <br />economic recovery is not yet stable, <br />with insufficient effective demand, <br />overcapacity in some industries, <br />weak social expectations, and still <br />many risks and hidden dangers, Li Qiang, Chinese Premier, via Associated Press.<br />According to a draft budget, an additional <br />$231 billion would be set aside for defense <br />spending, representing a 7.2% increase from 2023. .<br />According to a draft budget, an additional <br />$231 billion would be set aside for defense <br />spending, representing a 7.2% increase from 2023. .<br />The underlying trend of economic <br />recovery and long-term growth <br />remains unchanged and will not <br />change. So we must be more confident <br />and more assured of ourselves, Li Qiang, Chinese Premier, via Associated Press
