What happened: China has announced its lowest economic growth target since 1991, lowering it below the previous 'around 5%' set in 2023. This marks the first reduction in the target since last year.
Why it matters:
- It signals cautious economic expectations amid global and domestic challenges.
- The change affects investors, businesses, and global markets connected to China's economy.
MNN Take: China's decision reflects ongoing economic pressures and a more conservative outlook, influencing both domestic policy and international economic relations.
Sources: BBC World