Multinational enterprises confident of China's economic growth target

(ECNS) -- Against the backdrop of sluggish global economic growth, China's anticipation of a growth target of around 5 percent for this year set in the Government Work Report has faced scrutiny from certain international financial institutions. However, many multinational enterprises operating in China maintain that such a target is in line with the growth potential of the Chinese economy.

"We believe that China's GDP growth target of around 5 percent aligns with the trend of its economic development," said Cai Menghong, general manager of Herbalife Nutrition's China branch, in an interview with China News Network.

China, the world's second-largest economy, boasts strong economic strength, said Akihiro Fukaishi, Epson China's chairman and president. Fukaishi said he is confident of China's growth target.

Ming Wong, global vice president and CEO of Cisco Greater China, said the growth target reflects the strong resilience and potential of the Chinese economy, as well as the Chinese government's confidence in promoting high-quality development.

Wong believes it sends a clear message domestically and internationally that China is able to achieve stable economic growth and will continue to be a major engine driving global economic growth.

In 2023, with China's economy rebounding and solid progress in high-quality development, China continuously leads global economic growth, fully demonstrating the robust internal driving force, resilience, and potential of China's economy, said Zhang Ying, managing director of Dassault Systemes Greater China.

Since LinkedIn entered the Chinese market in 2014, it has experienced the rapid development of China's economy, said Wang Qian, country manager of LinkedIn China. The growth target of around 5 percent represents confidence in the steady growth of the Chinese economy and underscores a firm commitment to its sustained and healthy development, Wang added.

The UN World Economic Situation and Prospects 2024 report launched in January said that global economic growth is projected to slow down from an estimated 2.7 percent in 2023 to 2.4 percent in 2024.

China's economy will slow down from the estimated 5.3 percent in 2023 to 4.7 percent in 2024, it said.