The Shanghai and Shenzhen stock exchanges reacted eloquently to Li Qiang's speech on the eve of the National People's Congress (NPC) on March 5. The Chinese Prime Minister had just forecast ‘around 5%’ growth for China in 2024, one of the lowest targets in three decades.
But no major recovery plan on the agenda, once again disappointing the stock markets of the world's second largest economy. Weighed down by debt, Beijing is maintaining its focus on upgrading its industry, particularly the technology sector.