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Beijing Municipality targets GDP growth of around 5 percent for 2024

CGTN

The Beijing Municipality is targeting year-on-year growth of approximately 5 percent in terms of its regional gross domestic product (GDP) for 2024, the city's mayor, Yin Yong, said while delivering a government work report at the annual session of Beijing's legislative meeting on Sunday.

The Chinese capital also aims to keep its surveyed urban unemployment rate within 5 percent and its consumer price index (CPI) growth at around 3 percent this year. However, the general public budget revenue will increase by 5 percent year on year, according to the report.

Yin said Beijing strives to keep resident income growth in step with economic growth.

The 2024 targets were unveiled during the second session of the 16th Beijing Municipal People's Congress underway in the capital.

Beijing's GDP in 2023 topped nearly 4.4 trillion yuan (about $618.26 billion), up 5.2 percent year on year, according to the report.

(Cover: A file photo of CBD buildings in Beijing, China. /CFP)

(With input from Xinhua)

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