Following the release of China’s main economic data, the country’s National Bureau of Statistics has released a statement outlining its outlook on the economy, Reuters reports.
Featured Statements
The economic operations show stabilization and recovery.
The foundations of the economic recovery are not yet solid.
Employment in China is basically stable, the increase in the unemployment rate in February is due to seasonal factors.
The Chinese economy still is facing a lot of difficulties this yearincluding global risks.
The growth target for 2023, around 5%, is in line with economic reality.
Setting an excessively high growth target does not encourage higher quality growth.
It faces pressures and challenges to reach the growth target for 2023.
Economic policy tightening is expected to continue in some countries, as inflation remains high.
It is confident of reaching the growth target for 2023.
Consumption will recover significantly this year.
It is necessary to increase investment, also in technological innovation.
It will be able to reach its annual inflation target of around 3% despite some pressure.
Support will intensify to stabilize employment.
will continue to be taken measures to boost consumption.
The Chinese real estate market shows some positive changes, the sector is expected to stabilize.
Foreign demand will weaken this year.
China’s foreign trade faces some challenges, but it also has favorable conditions.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
