politics

China targets economic growth of around 5 pct in 2024

Font size+Author:Culture Compass news portalSource:sport2024-05-22 05:09:30I want to comment(0)

(Xinhua) 09:08, March 05, 2024BEIJING, March 5 (Xinhua) -- China targets economic growth of around 5

(Xinhua) 09:08, March 05, 2024

BEIJING, March 5 (Xinhua) -- China targets economic growth of around 5 percent in 2024, according to a government work report submitted Tuesday to the national legislature for deliberation.

The country expects to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at around 5.5 percent this year, according to the report.

A proactive fiscal policy and a prudent monetary policy will be continued, with the ratio of deficit to gross domestic product (GDP) set at 3 percent and the government deficit to rise by 180 billion yuan from the 2023 budget figure.

The country will see 3.9 trillion yuan of special-purpose bonds for local governments to be issued this year, up by 100 billion yuan from last year.

It will also issue ultra-long special treasury bonds over each of the next several years for the purpose of implementing major national strategies and building up security capacity in key areas, starting with 1 trillion yuan of such bonds this year, the report said.

The consistency of the macro policy orientation should be enchanced, it said.

Related articles
  • Insider Q&A: CIA's chief technologist's cautious embrace of generative AI

    Insider Q&A: CIA's chief technologist's cautious embrace of generative AI

    2024-05-22 04:15

  • Hong Kong news: Hong Kong police block Tiananmen Square candlelit vigil

    Hong Kong news: Hong Kong police block Tiananmen Square candlelit vigil

    2024-05-22 04:03

  • Changes to road user charges will see EV owners paying more, climate expert says

    Changes to road user charges will see EV owners paying more, climate expert says

    2024-05-22 03:10

  • HKFP Lens: 'Dear Hong Kong' celebrates city's diversity with new photo book

    HKFP Lens: 'Dear Hong Kong' celebrates city's diversity with new photo book

    2024-05-22 02:44

Netizen comments