China sets ‘ambitious’ economic growth target for 2024

China has set an “ambitious” GDP growth target for 2024, according to Sky News Business Editor Ross Greenwood.

China set the growth target at five per cent.

“It’s clearly ambitious,” Mr Greenwood said.

“When you consider collapsed property developers and also the plunge in savings of ordinary Chinese people.

“China’s stock market was clearly unimpressed – fell after the speech.”

[alwaysright]

It's easy when you can use coal...

[harrysmith]

China true gdp is more than US gdp already: China electricity consumption is 9 mil GWH vs US 4.1 mil GWH. China motor vehicle production per year is 30 mil vs US 11 mil. China steel production is 1 billion tons vs US 80 million tons. China cement usage per year is 25 times more than US cement usage. China universities produce 11 million graduates per year vs US 2 million.

[JamielDeAbrew]

If only China had an empty property tax. They wouldn’t have wasted land, materials and labour on properties that now sit empty. They would have avoided this bubble.

On the flip side, if Australia has a national empty property tax, it would help with our shortage.

AirBnBs and hotels would need to be rented on low demand days (even if at a loss) to avoid the tax. This would add supply. Some would even be converted back to long term rental.

Holiday homes would be rented when empty or sold.

[YUDNSAY]

Be interesting for the economists to see if the growth is generated by the BRICS.

[FinDDYouTube]

Competition in the Chinese e-commerce market has been getting fierce for sometime now. I see no reason to risk anything in 1 chinese stock when the entire market and especially the tech sector as a whole is in shambles. You likely see 😊 like CQQQ as you would just buying BABA but with significantly less risk.