China meets 2024 growth target

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BBC

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China: Donald Trump's tariffs are not China's only problem

Summary

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81% Informative

China 's economy rebounded in the last three months of last year , allowing the government to meet its growth target of 5% in 2024 .

But it is one of the slowest rates of growth in decades as the world's second largest economy struggles to shake off a protracted property crisis, high local government debt and youth unemployment.

The threat of President-elect Donald Trump's tariffs on $ 500bn (409bn) worth of Chinese goods looms large.

But that is not all that stands in the way of China achieving its growth targets.

Beijing must either undertake big, bold measures or accept that the economy is not going to grow so fast, Goldman Sachs' Chief China Economist Hui Shan wrote in a recent report.

" China needs to stabilise property markets and create sufficient jobs to ensure social stability," Mr Ding from Standard Chartered Bank said.

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