From all sides. For more on this joining me now is dr yujie, Senior Research fellow on china, at the think tank chatham house. Can you put that 5 target into context for us . For more on this joining me now is dr yujie, is it achievable . Thank you for having me. As many reporters described, the term ambitious because it is a very similar target to china put forward last year but only last year china started youre coming from a very low base of 5 seemed easier but this year 5 is a hard reaching target for beijing. This year 596 is a hard reaching target for beijing. Target for beiing. Weve been talkin target for beijing. Weve been talking already target for beijing. Weve been talking already or target for beijing. Weve been talking already or i target for beijing. Weve been talking already or i mentioned, we saw those clips from the premier. We listed some of the big issues for china, property crisis, youth unemployment. What, ifany, Concrete Steps were announced to address those . Wel
Biggest challenges facing chinas economy. A huge crisis when it comes to confidence as a result of the property crisis. Trying to get people out spending again. They said for example that china would surge ahead towards a great future and the question is that 5 target, there was not a lot of specific about how theyre going to achieve this. He also lauded the past achievements, talking about science, technology and Artificial Intelligence as well as the airline. ~. ,. , intelligence as well as the airline. , airline. What was beyond the economy . Airline. What was beyond the economy . The airline. What was beyond the economy . The birthrate airline. What was beyond the economy . The birthrate was| airline. What was beyond the i economy . The birthrate was an interesting economy . The birthrate was an interesting element. Economy . The birthrate was an interesting element. China economy . The birthrate was an interesting element. China is i interesting element. China is facing a demograp
Said there were favourable conditions outweighing unfavourable ones. And that china will surge ahead to a great future. He lauded developments in science, technology as well as the environment. Technology as well as the environment. ,. , environment. The emphasis on the economy environment. The emphasis on the economy. What environment. The emphasis on the economy. What other environment. The emphasis on| the economy. What other areas did he touch on . Did he touch on . Tech and al was an interesting did he touch on . Tech and al was an interesting element. | did he touch on . Tech and ai i was an interesting element. He talked about investing in quantum computing. He lauded as well talking about technology, the sea 919 airline that take into the skies domestically, the need for self sufficiency. Beijing has been talking about us restrictions on cheap production and that was one element of it. Chip. 2 million urbanjobs, youth million urban jobs, Youth Unemployment million urbanjobs, Yo
Economy now is important to anchor confidence. In doing that comes from projecting really clear, decisive policies to win the economy. 50 really clear, decisive policies to win the economy. So when it comes to to win the economy. So when it comes to confidence, to win the economy. So when it comes to confidence, we to win the economy. So when it comes to confidence, we are i comes to confidence, we are seeing china struggling with that. Do you see them introducing measures to boost spending because eli would say nine months ago, it wouldve seemed unlikely. But now the barfor stimulus is much higher. Its almost become a bit of a necessary condition for them to introduce something on the consumption side, to really boost the economy around 5 this year. Really boost the economy around 5 this year 596 this year. China is already saddled with 596 this year. China is already saddled with debt, 596 this year. China is already saddled with debt, what 596 this year. China is already saddled wit
Requires focused policies, redoubling efforts and work and concerted efforts from all sides. Lets head over to our Asia Business hub and speak tojoao da silva. Its a crucial meeting, talk us through the headlines as this all gets underway. This is not m, but sweet cream to pop up, here years. Thank you forjoining us, its a crucial meeting, took us through the headlines as this gets under way on day one. What gets under way on day one. What is interesting gets under way on day one. What is interesting is gets under way on day one. What is interesting is how gets under way on day one. W ue ii is interesting is how similar those targets that were Just Announced our to those of last year and that despite the fact that the merger in the worlds second largest economy has changed. The government is expecting growth of around 5 in 2024 which is pretty much the same as forecast in 2023, it expects inflation of 3 , the deficit to stay also within its preferred 3 limit and the Unemployment Rate t