China’s economic growth target for this year is “around 5%,” Premier Li Qiang announced at the National People’s Congress in Beijing. This matches the target that was set last year, and which was ultimately slightly exceeded. According to official figures from the Beijing Bureau of Statistics, the economy ultimately grew by 5.2% in 2023. While critics doubt the accuracy of Chinese economic data, the growth target is nevertheless regarded as an important indicator of the government’s economic policy course.