On March 5 and 8, Dr. John Gong, a China Forum expert and vice president for research at UIBE Israel, gave interviews to Sputnik and CGTN on China’s economic prospects.

As China’s 2024 government work report set a 5 percent GDP growth target for the year, Gong believes it demonstrates the nation’s rational confidence in its economy and its pursuit of growth and stability at the same time. The report proposes to strengthen the coordination of fiscal, monetary, employment, industrial, regional, technology, environment and other policies, with enhanced consistency in macro policy orientation, which means that China will pool its strengths even harder to cope with uncertainties.

Professor Gong then touched on China’s economic outcomes and sustainability prospects, noting that its economy has already shown signs of a robust recovery in the first two months of 2024, yet the challenge lies in maintaining the momentum and steering the service sector’s positive impact to other industries.

In addition, Beijing aims to add over 12 million urban jobs in 2024 – an ambitious target that reflects the country’s confidence and determination to deliver in employment. With China’s economic transformation in the AI era, its labor market is undergoing structural changes as the transformative technology replace some current jobs and create new ones.