Slow growth in China raises doubts over 2024 target as concern mounts

China faces headwinds in various sources of demand, in particular - and the government has not opened its purse strings sufficiently to make up for the shortfall

Economic growth in China has slowed to the lowest level in six quarters, according to the data reported last week by the National Bureau of Statistics. Between July and September, the economy grew only 4.6 per cent year-on-year. While this is in line with, or only marginally below, most estimates, it does cast into question whether the country will achieve the 2024 annual growth target, which has been set at “around 5 per cent”. Given the degree of support — or, at least, rhetorical commitment — that the leadership and Beijing have attached to this target in