China raised its 2023 economic growth target to 6%.

(Reuters)

[Financial Channel/Comprehensive Report] As China gradually relaxes epidemic prevention restrictions, China seems to be more and more confident about economic growth in 2023. According to sources in Beijing who participated in policy discussions at closed-door meetings, China will raise its growth target for this year to 6.5%. %, while hoping to boost market and consumer confidence by releasing this data.

"Reuters" reported that in 2022, affected by the impact of the epidemic and the successive closures of major cities to disrupt economic activities, China's economy will only grow by 3%, which is almost halved compared to the previously set 5.5%.

Four sources said that China intends to increase its economic growth target for 2023 to 6%, and another three sources estimated that it would fall at 5-5.5%, both of which were better than China's forecast of 4.5-5.5% at the end of last year. , showing that China is now optimistic about its domestic recovery.

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However, some sources believe that China's real estate market has not yet recovered, and export trade may also drag down economic growth this year. The actual figures are expected to be announced at the National People's Congress on Sunday (5th).

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