Many foreign institutions are positive about China’s economic prospects in 2024. They predict that consumption and exports will continue to improve and investment will rise, which will jointly contribute to the economic recovery.
This year, the central government may set a GDP growth goal of “about 5 percent,” which is necessary for stabilizing expectations, Yu Xiangrong, Citi’s chief economist for China, said in a note sent to the Global Times.
The target could be achieved with appropriate policies, Yu said, expecting a more expansionary policy mix this year, with fiscal and quasi-fiscal policies to take the lead while monetary policy plays a coordinating role.
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