China to Set 2024 GDP Growth Target at ‘Around 5%,’ Analysts Say

China is widely expected to hold its GDP growth target for 2024 steady at “around 5%,” mirroring last year’s goal, with some analysts predicting that the country will adopt a more proactive fiscal policy in a break with the past 3% budget deficit threshold to spur growth.

Market consensus on the projection is mounting ahead of the announcement of the official growth target on Tuesday by Premier Li Qiang, at the annual meeting of China’s top legislature during the “Two Sessions” political gatherings this week.