China sets annual economic growth target at 4.5%-5%, the lowest since 1991, amid various domestic and international challenges
China has officially set its annual economic growth target at a range of 4.5%-5%, marking the lowest projection since 1991. This significant adjustment was announced during the country's largest political event known as the "two sessions". The decision reflects ongoing challenges faced by the nation both domestically and internationally, including weakened consumption, a declining population, an enduring property crisis, and rising global trade tensions, notably exacerbated by the ongoing conflict in Iran. This adjustment in growth expectations follows a previous target reduction to "around 5%" in 2023, and it is the first time in recent years that the target has... [Continue Reading]
