Key meeting works as compass for China's economy in 2024

Huang Wentao, chief economist with China Securities, said the central government's stance towards driving economic growth has become more proactive, China Securities Journal reported on Wednesday.

The meeting pointed out the idea of 'establishing the new before abolishing the old,' which Huang sees it as a signal of increased policy efforts aimed at improving the real estate sector next year.

He anticipates that China's economy will continue its internal fluctuations in recovery in 2024, with policies aiding in strengthening economic foundations.

Huang expects the economic growth target to be set at a relatively high level of around 5 percent.