China has confidence, conditions and abilities to achieve 2023 GDP growth target – state planner
MACRO
China has confidence, conditions and abilities to achieve 2023 GDP growth target – state planner
MACRO

China has confidence, conditions and abilities to achieve 2023 GDP growth target – state planner

 

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China has the confidence, conditions and abilities to achieve its GDP growth target for 2023, with the existing and later-on macroeconomic policies, improving the economic structure and formation of new growth drivers, said an official from the National Development and Reform Commission (NDRC) on Tuesday.

China’s economy made a good start in the first quarter of 2023 and continued to recover in the second quarter, but the country is facing a complex global political and economic situation and the foundation for continued recovery is solid yet, it said.

China has set a GDP growth target of around 5% for 2023. The economy grew at 5.5% year over year in the first half of the year, showed the official data, well below market expectations, as the economy faces multiple domestic and external challenges.