In a confident move, Chinese Premier Li Qiang presented the government work report at the second session of the 14th National People's Congress, outlining China's economic aspirations for 2024. The State Council has set a target of approximately 5 percent growth, a figure that, while more modest than the soaring rates of the past few decades, represents a significant achievement given the current economic landscape.
The report highlights China's commitment to fostering stability across key areas such as consumption, employment, and local debt. By maintaining essential levels of fiscal spending, the government aims to support pivotal economic sectors and transition towards a more consumption-driven economy. The Ministry of Commerce has designated 2024 as the \"year of promoting consumption,\" implementing measures to revive demand and attract increased investment.
Employment remains a top priority, with strategies in place to stabilize and expand job opportunities. Last year alone, China created over 12.44 million urban jobs and lifted nearly 34 million people out of poverty by securing new employment avenues. Moving forward, the nation plans to intensify its focus on employment, enhancing policies to further strengthen the job market.
Despite facing both external and internal challenges, the outlook for China's economy in 2024 remains hopeful. The government's comprehensive approach aims to sustain growth, enhance economic resilience, and improve the overall standard of living for its citizens.
Reference(s):
cgtn.com
