Exclusive_Interview__Jin_Keyu_on_China_s_2024_Economic_Outlook video poster

Exclusive Interview: Jin Keyu on China’s 2024 Economic Outlook

China has announced a 2024 economic growth target of around 5% in its latest government work report. Amid global economic uncertainties, the country aims to enhance frontier technology research, expand domestic demand, and open its markets further to foreign investors. To delve deeper into China’s economic outlook for 2024, we spoke with Jin Keyu, associate professor of economics at the London School of Economics.

Balancing Growth and Stability

“The 5% growth target reflects a pragmatic approach,” Jin noted. “It acknowledges the challenges posed by global economic headwinds while emphasizing sustainable development.”

Investing in Frontier Technologies

China’s commitment to enhancing research in frontier technologies is a strategic move to drive innovation. “Investing in areas like artificial intelligence, biotechnology, and renewable energy is crucial for long-term competitiveness,” Jin explained. “These sectors will not only spur economic growth but also help China transition to a more innovation-driven economy.”

Expanding Domestic Demand

Boosting domestic consumption remains a priority. “Expanding domestic demand is vital to reduce reliance on external markets,” she said. “Policies that increase household incomes and improve social welfare can stimulate spending.”

Opening Up to Foreign Investment

On further opening markets to foreign investors, Jin remarked, “Greater openness can attract high-quality foreign capital and expertise. It signals China’s commitment to globalization and can enhance confidence among international investors.”

Challenges Ahead

Despite these positive steps, challenges persist. “China faces structural issues such as an aging population and environmental concerns,” Jin pointed out. “Implementing reforms in areas like state-owned enterprises and financial markets is essential.”

Looking Forward

When asked about the key to sustainable growth, Jin emphasized innovation and reform. “Continued commitment to innovation, coupled with deepening reforms, will be critical for China’s long-term economic health.”

As China navigates the complexities of the global economy, insights from experts like Jin provide valuable perspectives on the nation’s economic trajectory in the coming year.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top