China to announce 'aim for growth rate of 5% or more this year' = Chinese media
China's state-run media reported that the "GDP (Gross National Product) growth rate target for this year" announced by China on March 5th is expected to be at a level of 5% or more.

China's state-owned English-language newspaper Global Times said on the 4th, "Amid the downtrend of the global economy, policymakers announce a growth rate target of 5% or higher to maintain high-quality development. This is the view of Chinese economists and institutions."

"China's economic growth momentum is gradually returning to normal as the impact of the COVID-19 virus pandemic recedes," said Lien Ping, president of the Siixin Investment Research Institute, according to the report. "They will offer a target of a little over 5%, or a growth rate of 5.5%," he predicted.

Lianping said, "With the effects of the pandemic gradually disappearing, China's consumption will recover rapidly, and the real estate market will bottom out and rise, so it is unlikely that the economic growth rate will exceed 5%. There is no doubt," he said.

In addition, economist Chen Fengying said, "Given the factors behind the current stable economic rebound and the base effect, China's GDP growth rate is expected to surge to the level of 6%." may set a reasonable target of about 5% among external challenges."

China's GDP growth target for this year will be set out in a government work report to be announced by Premier Li Keqiang at the opening ceremony of the National People's Congress (NPC) on the 5th.
2023/03/08 09:45 KST