Xi Jinping tones down focus on China’s growth targets as headwinds mount
Xi Jinping said on Thursday that China should ‘strive to fulfil the economic and social development goals’ for 2024
President Xi Jinping has subtly toned down China’s focus on achieving its annual economic growth goals this year, seemingly indicating the difficulties faced by the world’s second-largest economy in achieving its “around 5 per cent” gross domestic product target.
“We should strive to fulfil the economic and social development goals and tasks for the whole year,” Xi told a symposium in the northwestern city of Lanzhou on Thursday, according to state broadcaster CCTV.
In contrast, Beijing’s top leadership said in the communique following July’s third plenum that China “must remain firmly committed” to accomplishing this year’s goals.
Xi made the remarks on Thursday while urging governments and departments in the northwestern Gansu province to fully implement all the economic measures introduced by the central government, and seize the opportunities in the second half of the year.
[GDP growth] is going to be slightly less than 5 per cent and that should be acceptable or a reality
“I think it’s an obvious change,” Ding Shuang, chief Greater China economist at Standard Chartered Bank, said on Friday.
