China Sets Growth Rate At 5%

The Chinese government set its 2023 growth target for its economy at around 5%, according to a government work report released at the opening of the country’s annual meeting of parliament on Sunday, as the world’s second-biggest economy began to emerge from three years of severe COVID-19 restrictions.

That compares with its 2022 target of around 5.5%. The Chinese economy grew 3% last year, significantly missing the 2022 target and marking one of the slowest rates of growth in almost half a century.

A 2023 government budget deficit target of 3.0% of GDP has been set, according to the report, widening from a deficit goal of around 2.8% last year.

In the report, China has set a 2023 target of around 3% for its inflation, unchanged from its 2022 target. The CPI rose 2.0% last year.

Support The Readers Bureau. Buy A T-Shirt Today (4 different colors)! click

Readers Bureau, Contributor

Edited by Jesus Chan

Do you want to add feedback to this story?

Please add a comment in the box below or send an email to Call us at 646-874-7976 SUBSCRIBE CLICK