Reports that China is likely to set 2024 growth target at around 5%

<p>Reuters with this.Citing sources on what took place at the annual Central Economic Work Conference behind closed doors on Monday and Tuesday this week.</p><ul><li>China to run a budget deficit of 3%
of gross domestic product in 2024, other fiscal support may be covered by
off-budget debt </li><li>that 3% deficit figure is lower than this year's revised
3.8% target, with the option to issue off-budget sovereign debt giving
flexibility to step up stimulus </li><li>special sovereign bonds
could be issued to pay for extra expenditures as needed, could amount to 1 trillion yuan ($140.16
billion). </li><li>All three sources who spoke with Reuters after the annual
meeting confirmed China was likely to target growth of around 5%
in 2024.</li></ul><p>China's pull back for massive fiscal stimulus continues. This is not the stimulus that markets are (still) looking for, but its been petty clear China has changed to smaller steps. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.