China's GDP target of 5% for 2024 is possible, but it won't be easy to achieve, Hong Kong's financial secretary told CNBC Tuesday after Beijing set a growth target of "around 5%" for this year.
I think this is attainable, although it's not easy," Hong Kong's Financial Secretary Paul Chan told CNBC's Emily Chan, highlighting bright spots in China's export sector and domestic consumption.
So this represents also a huge market for China's export," Chan said, adding that "we expect the export situation of the mainland will improve particularly into developing Asia."
Domestic consumption is also a key driver for the city's growth in the short term, said the financial secretary.
Hong Kong's GDP is projected to grow 2.5% to 3.5% this year.
Persons:
it's, Paul Chan, CNBC's Emily Chan, Chan, Goldman Sachs
Organizations:
CNBC, Kong's, ASEAN, Association of Southeast, Nations, U.S .
Locations:
Beijing, China, Asia, U.S, Macao, Hong Kong