China targets 2024 GDP growth of around 5%- government work report

China has set the 2024 growth target for the economy at around 5%, similar to last year's, according to an official work report seen by Reuters on Tuesday.

The National People's Congress (NPC), China's rubber-stamp parliament, is due to hear Premier Li Qiang's maiden work report at its annual meeting in Beijing this week. The report sets out the government's key economic and social development goals each year.

China's economy expanded 5.2% last year, but it remains heavily reliant on credit-driven, state-led investment for growth, raising concerns over whether it can sustain that pace in the longer-term.