China says economy got a strong start in 2024, sets sights on latest technology, upgrading factories | KLRT [Video]

BEIJING (AP) — China has plenty of room to maneuver to attain its annual target for robust economic growth of about 5% after a strong start for the year, top economic officials said Wednesday, though they acknowledged it’s a challenge.

China’s exports rose about 10% in the first two months of the year from a year earlier, while medium- and long-term loans from banks jumped more than 30%, said China’s top planning official, Zheng Shanjie, who heads the National Development and Reform Commission.

Zheng said the priority will be on “supporting scientific and technological innovation, integrated development of urban and rural regions, food security and energy security, among other areas.”

“The potential construction demand in these areas is huge and the investment cycle is long. It’s hard to fully meet needs using existing funding channels and there’s an urgent need to increase support,” he said at a news conference on …