Posted 12/26/2023, 10:00:23 PM
China Tasks Major Provinces to Spur Growth, Aid Economic Recovery
- Chinese leaders encouraging economic powerhouses like Guangdong and Shanghai to aid nation's recovery and stabilize growth
- These provinces tasked with ensuring growth not lower than 5% national target in 2024
- Exporters like those in Ningbo face pressure to set "bolder" targets, promised government help to achieve them
- Obstacles remain though, like finding new markets to replace lost US and EU demand
- Businesses urge restoring ties with West rather than shifting exports to new markets which takes time and money