China's Guangdong sets growth target of around 5% for 2025 despite steady slowdown
China's manufacturing powerhouse Guangdong has set a growth target of around 5% for 2025, following the lead of other provincial governments in recent days. Guangdong saw economic growth slow steadily in the first three quarters of 2024, with its GDP expanding just 3.4% from a year ago. Analysts said China's property crisis had a harder impact on Guangdong, as many of the country's top property developers are headquartered there. Deborah Wong reports.
China's manufacturing powerhouse Guangdong has set a growth target of around 5% for 2025, following the lead of other provincial governments in recent days. Guangdong saw economic growth slow steadily in the first three quarters of 2024, with its GDP expanding just 3.4% from a year ago. Analysts said China's property crisis had a harder impact on Guangdong, as many of the country's top property developers are headquartered there. Deborah Wong reports.
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