MNI BRIEF: China Sees 5% 2024 Growth In Reach - NBS
MNI (BEIJING) - Authorities are incresaingly confident China can reach the government's 5% GDP growth target in 2024, with September's improvements likely to continue into Q4, said Sheng Laiyun, deputy director of the National Bureau of Statistics, on Friday.
Speaking with reporters, Sheng highlighted an uptick in September data showed incremental measures were taking effect, with authorities ready to accelerate existing support in Q4 to ensure the recovery was maintained.
China's 4.8% GDP growth in the first three quarters provided a solid base for the nation to achieve this year's economic targets, Sheng added.
In order to meet the annual GDP target, authorities will partly rely on CNY2.5 trillion in already-allocated quotas for raising project-backed bonds, which could return growth to above 5.2% in Q4 if the funds are deployed quickly to activate workers on the ground. (See MNI: China Needs Over 5.1% Growth In Q4 To Meet Targets)