The Financial Times (FT) has written an article: ”China’s lowest growth target in decades signals a new era of caution”.
“Chinese political leaders have set this weekend a bleak growth forecast for the world’s second-largest economy, despite prevailing optimism after three years of lockdowns during the coronavirus pandemic“.
At the annual meeting of the Chinese Parliament, held in Beijing, policy makers set a growth target of just 5% by 2023the lowest in recent decades, below 5.5% last year, which was not reached.
Citing Tang Yao, associate professor of applied economics at Peking University, the FT describes a government that adopts “a very prudent approach in the face of a series of uncertainties”.
Meanwhile, analysts see a possible cut in China’s RRR policy rate close at hand.
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.
