China says it needs to 'jump hard' to attain economic growth target

At a rare news event that gathered five top Chinese regulators, officials said it will take vigorous efforts to achieve its economic target this year. The chief of China's macroeconomic planner says the country needs to "jump hard" to attain its 2024 growth target of around 5 per cent which was unveiled in a government work report by Chinese Premier Li Qiang. CNA's Low Minmin reports.

[LonganLee]

Luckily economists mostly cannot audit the GDP. In Spirits, we trust

[ArabicReja]

In 2023, real China's 🇨🇳 economy shrank -3.5% as opposed to 5.2% expansion as officially announced.
- So this year, they will just publish a 5% growth regardless of their economy.

[pheonix-one]

They may be able to achieve this easily; not sure where the analysis comes from about ‘hard jump’.

In short, they have a population that can support the growth despite negative western and like-minded biased press reports. Also, sanctions that go against WTO rules.

They’ve created a new commercial plane. This may mean that they could have expansion in the whole supply chain to global markets.

Their Solar panel uplift could have growth in energy sectors and international markets.

Electric car growth supply chain could grow with more standardisation and quality.

Their chip sector could ramp-up especially with new AI chips rivalling NVidias offering.

Their energy sector has ramped up to support the new AI and Quantum computing offering. Also increased diversification of industrial centres.

Military industrial complex similar to the US will continue to grow rapidly. If it continues in-line with Russia this may mean growth on that front. I suspect their new output in technology will outperform western expectations.

Growth markets in Asia, Africa and South America.

BRICS technology may make western trade markets weaker as pricing may not have to go through main-bourse pinch-points of sanctions. Direct trade pricing will mean that normal western financial industries will have to diversify. Therefore more opportunity for countries with sanction-free trade zones.

There are so many sectors that are growing. So not sure of the CNA report output.

[joseimmanuelcahilig]

China on a Downturn it's. Panic time

[happymelon]

Mar 6, 2024 The next China is not India or Vietnam — it's still China, says strategist
Shaun Rein, founder of the China Market Research Group, says "multinationals, if you're thinking about a three-, five-year growth plan, you got to be investing in India, but you have to be investing in China, because there's no other country that has the scale of China."

[liar-liar]

😂😂 the US Israel won't let it happen

[matt]

China is being pragmatic and the people are supporting their government !

[liarliar]

Her GDP has exceeded 60% of America's GDP.

[SawziXX-ssfg]

I will repeat my question to the Americans....
Regarding the possibility of a nuclear war between US and Russia
Does the Americans explained to its Allies in Europe that :
if Russia got a nuclear hit, then Europe will get sick because of the nuclear fallout ?
or, the Americans ( hide ) this fact ( on purpose ), in order to get rid of both ( Russia & Europe )
by taking advantage, that the Europes ( did not pay attention ) to the nuclear fallout issue !!
and that : nuclear fallout go to the west of the strike location, because of the Earth rotation around its

[yleddri]

What will be the policies in place to make that “ jump hard” into action … communist China is as bad as Russia communist economy … China achievements are due to western nations & a free market economy practices by the west

[esashaik]

Did you know China's Yuan is the second used currency in the world just behind the US.Chinas Yuan already replaced the Euro as the second used currency in the world.

[liarliar]

The US is number one. Any country can be number two but her GDP must not get too close to the GDP of the US.

[happymelon]

China's 5% GDP target is 'attainable' but it won't be easy, says Hong Kong's financial Analysis.

[deschan]

Jump hard? 😂 based on current China situation, its unlikely to happen in reality but can be easily achieved thru faking or lying. 😂

[ghteo]

Taking note of the word "around" 5% as target. If they raise by 4.5% as IMF prediction, they will say they hit the target.