China’s growth hindered by cyclical and structural factors

China's economy is facing a cyclical and structural slowdown which is complicating predictions about whether the official growth and employment targets for 2024 will be met. Due to ongoing global challenges, including geopolitical tensions and a property crash, alongside internal shifts towards a service and high-value-added production economy, China is planning to use fiscal policy and moderate monetary policy support to achieve its goals of roughly 5 per cent GDP growth and the creation of over 12 million new jobs.