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- China likely to set 2024 economic growth target at around 5.0% – Reuters
China likely to set 2024 economic growth target at around 5.0% – Reuters
Citing three sources with knowledge of the matter on Friday, Reuters reported that Chinese leaders agreed at an annual meeting on the economy this week to set the 2024 economic growth target at around 5.0%.
Additional takeaways
China to target budget deficit of 3% of GDP in 2024, vs. this year's revised ratio of 3.8%.
China may issue off-budget special bonds should the economy require extra fiscal support.
The official targets are usually not announced publicly until China's annual parliament meeting, usually held in March.
Market reaction
AUD/USD is holding higher ground above 0.6700 on the above report, adding 0.23% on the day.
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