Posted 1/18/2024, 10:00:22 PM
China's Top Cities Target Over 5% GDP Growth in 2024 Despite Economic Headwinds
- China's top cities set 2024 GDP growth targets above 5%, despite debt, population, and other economic concerns
- At least 5 major cities aim for 6%+ GDP growth, including Ningbo, Hefei, Changzhou, Nanjing, and Guangzhou
- Cities expected to drive growth through manufacturing, infrastructure investment, ports, batteries, autos
- Economists forecast slower national growth of 4.5-5.3% in 2024 amid property slump, debt, demographics
- Central government wants major cities to shoulder more responsibility for stabilizing growth