China's Provinces Set Modest 2024 Growth Targets After Missing Previous Goals

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China's Provinces Set Modest 2024 Growth Targets After Missing Previous Goals
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Many provinces in China, including Shanghai, have set modest 2024 economic growth targets after missing their previous goals. This suggests that a nationwide recovery to pre-pandemic levels would be difficult to achieve this year.

Many provinces in China , including Shanghai, have set modest 2024 economic growth targets after missing their previous goals. This suggests that a nationwide recovery to pre-pandemic levels would be difficult to achieve this year. Last year, China 's GDP grew by 5.2%, meeting the government's target. However, at least 15 out of 31 provincial economies failed to meet their 2023 targets. Heilongjiang reported only 2.6% growth, Jiangxi posted 4.1% growth, and Henan missed its target by 1.9%.

Even Shanghai, recovering from COVID lockdowns, missed its growth target in 2023

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China Provinces Economic Growth Targets Recovery Pre-Pandemic Levels

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