{"id":126581,"date":"2024-03-05T09:10:30","date_gmt":"2024-03-05T07:10:30","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/china-vows-to-transform-economy-sets-ambitious-growth-target\/"},"modified":"2024-03-05T09:10:30","modified_gmt":"2024-03-05T07:10:30","slug":"china-vows-to-transform-economy-sets-ambitious-growth-target","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/china-vows-to-transform-economy-sets-ambitious-growth-target\/","title":{"rendered":"China vows to \u2018transform\u2019 economy, sets ambitious growth target"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/126581\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nChinese Premier Li Qiang announced an ambitious 2024 economic growth target of around 5% on Tuesday, promising steps to transform the country&#8217;s development model and defuse risks fuelled by bankrupt property developers and indebted cities. Delivering his maiden work report at the annual meeting of the National People&#8217;s Congress, China&#8217;s rubber-stamp parliament, Li also flagged higher defence spending, while hardening the rhetoric on Taiwan.<\/p>\n<p>In setting a growth target similar to last year, which will be harder to reach as a post-COVID recovery is losing steam, Beijing signals it is prioritising growth over any reforms even a Li pledged bold new policies, analysts said. &#8220;It\u2019s more difficult to achieve 5% this year than last year because the base number has become higher, indicating that the top leaders are committed to supporting economic growth,&#8221; said Tao Chuan, chief macro analyst at Soochow Securities.<\/p>\n<p>Last year&#8217;s patchy, uneven growth laid bare China&#8217;s deep structural imbalances, from weak household consumption to increasingly lower returns on investment, prompting calls for a new growth model. China started the year with a stock market rout and deflation at levels unseen since the global financial crisis of 2008-09. The property crisis and local government debt woes persisted, increasing pressure on China&#8217;s leaders to come up with new economic policies.<\/p>\n<p>With awe at China&#8217;s economic miracle fading rapidly, some economists have drawn comparisons with Japan&#8217;s lost decades of stagnation in the 1990s, calling for pro-market reforms and measures to boost consumer incomes. &#8220;We should not lose sight of worst-case scenarios and should be well prepared for all risks and challenges,&#8221; Li said in the Great Hall of the People in Tiananmen Square. &#8220;In particular, we must push ahead with transforming the growth model, making structural adjustments, improving quality, and enhancing performance.&#8221; There was no timeline or concrete details for the structural changes China intended to implement, however, with Li also emphasising stability as &#8220;the basis for everything we do&#8221;.<\/p>\n<p><a rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/china\/china-targets-2024-gdp-growth-around-5-government-work-report-2024-03-05\/\">Read more &gt;<\/a>&gt;<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/china\/china-targets-2024-gdp-growth-around-5-government-work-report-2024-03-05\/\">Reuters<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/vaufien\/china-vows-to-transform-economy-sets-ambitious-growth-target\/\">China vows to \u2018transform\u2019 economy, sets ambitious growth target<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[758,1052,606,607,608],"class_list":["post-126581","post","type-post","status-publish","format-standard","hentry","category-news","tag-china","tag-economy","tag-vau_viikkokatsaus","tag-vauen","tag-vaufien"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/126581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=126581"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/126581\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=126581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=126581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=126581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}