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Under the Banyan Tree by HSBC Global Research
Can China achieve 'around 5%' growth?
Mar 7, 2024
Chief China Economist, Jing Liu, discusses China's 2024 growth target, focusing on challenges in achieving it, pandemic recovery, consumer spending, monetary easing, and shift towards a new growth model. The podcast also explores China's strategy for sustainable growth through domestic consumption, social benefits, and countercyclical stimulus measures, including the issuance of special treasury bonds for infrastructural projects.
15:09
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Quick takeaways
- China aims for 5% growth through stimulus measures like lower interest rates and reserve adjustments.
- Focus on high-quality growth involves reducing income inequality and boosting domestic consumption for economic stability.
Deep dives
China's Economic Growth Target Set at Around 5%
China has set an economic growth target of around 5% for the year, consistent with past trends, requiring significant effort to achieve due to the Basifac effect. Despite challenges such as ongoing pandemic recovery, lower per capita spending, and moderate export growth, government interventions like monetary easing aim to stimulate demand through lower interest rates and reserve requirement adjustments.
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Discover
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