0712 GMT - China may set the 2025 GDP growth target at 4.5%-5% and allow for some flexibility given external uncertainties, Nomura economists say in a research note. Domestic consumption could be a key focus for Beijing this year to counter external headwinds. Authorities are likely to expand existing trade-in programs and other subsidies, the economists say. China could raise its official fiscal deficit to 4% of GDP from 3% in 2024 and may announce record-high issuance of special government bonds to support investment and consumption, they say. Meanwhile, structural reform could accelerate this year, as Beijing places more emphasis on high-quality growth and support for the private sector, they say. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

February 24, 2025 02:12 ET (07:12 GMT)

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