China Is Critical to the Stock Market in 2024: What to Watch

China’s economy, the second largest in the world, is critical to watch entering 2024. The People’s Bank of China (PBoC) is expected to soon announce a GDP growth target for 2024, with speculation centering on a 5% goal. This figure, while lower than the ambitious 6% rates of the past, aligns with the new normal of tempered growth the nation has been experiencing. After all, China’s GDP growth slumped to just 3% in 2022 , although it showed signs of resilience with a rebound to 4.9% from Q3 2022 to Q3 2023. The challenge now is to build on this momentum in the face of significant economic headwinds. The Chinese economy has been…