Editor’s Note: CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Beijing CNN  —  China has set an ambitious economic growth target of “around 5%“ for 2024, as its leaders aim to restore confidence in the world’s second-largest economy in the face of significant challenges threatening its growth. The figure — similar to last year’s growth target — was released Tuesday morning at the opening of the annual gathering of the National People’s Congress (NPC), the country’s rubber-stamp legislature, which draws nearly 3,000 delegates to Beijing for a week-long meeting. This is a developing story and will be updated.