China’s “around 5%” growth target in line with economic trend – state planner NDRC
China’s “around 5%” growth target in line with economic trend – state planner NDRC

China’s “around 5%” growth target in line with economic trend – state planner NDRC

China’s “around 5%” economic growth target for 2023 is in line with the trend of economic operation, said Zhao Chenxi, deputy head of the top economic planner National Development and Reform Commission (NDRC).

China is still a developing country, with development as the top priority, and achieving the social and economic goals and tasks set at the Party’s 20th National Congress requires a reasonable economic growth as well as quality and efficiency of development, he said.

It’s necessary to coordinate efforts to expand employment, improve people’s livelihoods, and prevent and resolve risks, which also requires a certain level of growth, he said.

The target of around 5% is in line with the trend and laws of economic development and is conducive to guiding all parties to pay more attention to improving the quality and efficiency of economic development, accelerating the construction of a new development pattern, and promoting high-quality development, Zhao added.

Various regions have strong confidence and enthusiasm for development, and among the 31 provinces, cities, and autonomous regions, 27 have set 2023 growth targets above the national average, with 23 provinces setting targets at 5.5% or higher.

The regional economic growth targets and their practical measures to fulfil the targets create conditions and lay the foundation for achieving the national growth target, he said.