China's Economy Shows Resilience Amid Challenges, Future Growth Targets Set

Economy

1 year ago

News sources:

Credited from: SCMP

The **Chinese economy** is exhibiting resilience, revealing improvements despite external challenges according to a recent economic **census** by the National Bureau of Statistics.
President **Xi Jinping** anticipates growth to meet the target of around **5%** in 2024, emphasizing the economy's strong reconstruction post-pandemic.
Notable transformations in manufacturing and services have taken place, helping to stabilize the economy against **US trade tensions** and supply chain disruptions.
While **service sectors** thrived, including digital industries, challenges remain, particularly in the **real estate** market, which has seen a significant workforce decline.
As policymakers prepare for the next **five-year plan**, the latest census acts as a vital tool to identify strengths and necessary improvements moving forward.

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