China sets ambitious economic target for 2024

China has announced its economic target for the year 2024, aiming for a GDP growth rate of 6.5% to 7%. This ambitious target comes as the country continues to recover from the impacts of the COVID-19 pandemic and seeks to further strengthen its economy.

In addition to the GDP growth target, China also plans to increase investment in research and development, with a focus on technologies such as artificial intelligence, quantum computing, and 5G. The country aims to become a global leader in these key areas of technology.

The government has outlined a number of initiatives to support economic growth, including tax cuts for businesses, increased infrastructure spending, and measures to boost domestic consumption. These efforts are aimed at ensuring sustainable and balanced economic development in the years to come.

Overall, China’s economic target for 2024 reflects the country’s continued commitment to fostering innovation, driving economic growth, and maintaining its position as a major global economic powerhouse.