China sets economic growth target of ‘around 5%’ for 2023, lowest in decades
1 year, 10 months ago

China sets economic growth target of ‘around 5%’ for 2023, lowest in decades

The Hindu  

China on Sunday set an economic growth target of “around 5%” for 2023, one of the lowest in decades, as its annual National People’s Congress opened in Beijing. Mr. Li said China would aim to add “around 12 million new urban jobs” this year and bring the urban unemployment rate to around 5.5%. “China’s economy is staging a steady recovery and demonstrating vast potential and momentum for further growth,” said Mr. Li in an hour-long speech punctuated by ripples of applause from thousands of delegates. “Such achievements are a testament to the tremendous resilience of China’s economy.” Zhiwei Zhang from Pinpoint Asset Management said: “The growth target came in at the low end of the market expectation.

Growth China Beijing Target  china  2023  target  li  lowest  sets  decades  economy  read  recovery  rise  urban  growth  economic

History of this topic

Xi Jinping muzzles Chinese economist who dared to doubt GDP numbers
2 days, 3 hours ago

Xi Jinping muzzles Chinese economist who dared to doubt GDP numbers

Live Mint  

At a Washington forum last month, a prominent Chinese economist raised doubts about Beijing’s economic management and said China’s economy might have grown at less than half the roughly 5% pace flaunted by authorities. “We do not know the true number of China’s real growth figure," Gao said at the Dec. 12 event, whose webcast is available on the Peterson …

China Sees Manufacturing Sector Expand At Muted Pace In December
1 week, 2 days ago

China Sees Manufacturing Sector Expand At Muted Pace In December

ABP News  

The manufacturing activity in China climbed for the third consecutive month in December, however, the pace remained marginal, an official factory survey showed on Tuesday. However, authorities remain optimistic that fiscal and monetary measures released later in the year would lead to a turnaround in the property market, which has weighed down the broader economy. An improvement in domestic demand …

Prospects for 2025 are visible in the end-of-year haze
1 week, 4 days ago

Prospects for 2025 are visible in the end-of-year haze

Live Mint  

Wintry January mornings are known to obscure clear 20/20 vision. With Donald Trump promising to weaponize tariffs and clamp immigrant flows, while mocking climate change and taking an axe to the US’s multilateral commitments, large-scale unpredictability is likely to undergird the next 12 months. One direct outcome of Trump imposing reciprocal tariffs against Indian exports will be a marginal erosion …

China raises its estimate for the size of its economy in 2023
2 weeks ago

China raises its estimate for the size of its economy in 2023

Associated Press  

BANGKOK — China’s economy grew a bit more in 2023 than earlier thought, but the revision has not affected forecasts for “about 5%” growth in the GDP this year, the government said Thursday. The estimate for total economic activity, or GDP, in 2023 for the world’s second largest economy was increased by about 2.7% to 129.4 trillion yuan, based on …

China’s weak consumption drags on economy as Trump tariff threat looms
3 weeks, 4 days ago

China’s weak consumption drags on economy as Trump tariff threat looms

CNN  

Beijing Reuters — China’s industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more US trade tariffs under a second Trump administration. “China’s economic policies have been amazingly consistent in promoting manufacturers over consumers despite clear signs of lasting weakness,” said Dan Wang, a …

Steps ready for stable growth of the economy
4 weeks ago

Steps ready for stable growth of the economy

China Daily  

In setting priorities for its economic policy for 2025, China is emphasizing the need to maintain stable growth, employment and commodity prices through steps including higher deficit-to-GDP ratios, the issuance of ultra-long-term special treasury bonds and interest rate cuts. The meeting reaffirmed the need to adopt a moderately loose monetary policy next year, including the rollout of rate cuts and …

China's leaders vow more 'relaxed' monetary policy in 2025
Trending News
1 month ago

China's leaders vow more 'relaxed' monetary policy in 2025

New Indian Express  

BEIJING: Chinese President Xi Jinping and other top leaders said Monday they would adopt a more "relaxed" approach to monetary policy as they hashed out plans to boost the economy next year. The world's second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt -- all of which threaten Beijing's official growth …

Donald Trump may impose 40% tariffs on China in early 2025: Report
1 month, 3 weeks ago

Donald Trump may impose 40% tariffs on China in early 2025: Report

India Today  

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to 1 percentage point. The poll, the first on China's economy by Reuters since Donald Trump's sweeping election victory on November 5, also predicts that the President-elect will resist …

China's economy to sustain recovery in Nov-Dec: NDRC
Trending News
1 month, 3 weeks ago

China's economy to sustain recovery in Nov-Dec: NDRC

China Daily  

BEIJING - China's economy is expected to maintain its recovery momentum in November and December thanks to the effectiveness of the country's policy toolkit, the National Development and Reform Commission said on Tuesday. The commission, the country's top economic planner, is working with other parties to achieve the full-year growth target, said NDRC spokesperson Li Chao at a press conference. …

China's economy to sustain recovery in Nov-Dec: NDRC
1 month, 3 weeks ago

China's economy to sustain recovery in Nov-Dec: NDRC

China Daily  

Xinhua | Updated: 2024-11-19 11:20 BEIJING - China's economy is expected to maintain its recovery momentum in November and December thanks to the effectiveness of the country's policy toolkit, the National Development and Reform Commission said on Tuesday. The commission, the country's top economic planner, is working with other parties to achieve the full-year growth target, said NDRC spokesperson Li …

China on track to reach growth targets
1 month, 3 weeks ago

China on track to reach growth targets

China Daily  

A visitor touches the finger of a mechanical hand at a booth at the 26th China High-Tech Fair in Shenzhen, South China's Guangdong province, Nov 15, 2024. China has "full confidence" that it will meet the growth targets for this year and remain the biggest engine of world economic growth, President Xi Jinping said on Friday, reaffirming Beijing's pledge to …

GDP goal to be met on positive cues
1 month, 3 weeks ago

GDP goal to be met on positive cues

China Daily  

The skyline of Beijing. Citing a package of incremental policy measures announced in recent months, Robin Xing, chief China economist at Morgan Stanley, noted that "recent policy dynamics signal a strong turning of overall government policy in trying to bolster economic growth, boost confidence and stabilize expectations." Xing said he expects to see additional fiscal stimulus in the coming months, …

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?
2 months ago

Will China attempt economic revival markets seek post-COVID with multi-trillion-yuan initiatives?

Live Mint  

China is expected to unveil significant economic measures Friday at the conclusion of the National People's Congress Standing Committee meeting, aiming to revive its struggling economy, AP reported. Analysts believe China may need substantial, multi-trillion-yuan initiatives to reinvigorate growth in the world’s second-largest economy, which has yet to recover fully from the COVID-19 pandemic. Any new spending or economic boost …

China's Growth: A Catalyst for Global Prosperity
2 months ago

China's Growth: A Catalyst for Global Prosperity

China Daily  

China's growth is vital for global development, and the country will promote mutually beneficial cooperation and development to counter the zero-sum games being played by some Western economies. The expansion and structural optimization of China's economy will have a significant impact on global economic growth, with every 1 percentage point increase in China's growth rate boosting global economic growth by …

China's Economic Stability: A Steady Beacon Amid Global Uncertainty
2 months, 1 week ago

China's Economic Stability: A Steady Beacon Amid Global Uncertainty

China Daily  

China's economy remains a stabilizing force in the global economy, despite the challenges of global geopolitical rivalries and rising government debt. The country's structural reforms and high-quality development strategies have contributed to its stability and growth. China's commitment to high-quality development and its willingness to engage in global trade and cooperation remain crucial for maintaining its economic prosperity and stability …

Focus on Consumers: Experts Say as China Embraces Consumption as Growth Engine
2 months, 2 weeks ago

Focus on Consumers: Experts Say as China Embraces Consumption as Growth Engine

China Daily  

China's focus on boosting consumer confidence is gaining momentum as a key growth driver. The government plans to invest heavily in social welfare and property sectors to stimulate spending and boost confidence. This shift is expected to help overcome the challenges of weak domestic demand and geopolitical uncertainties. The IMF's recent projections indicate that China's economy could grow by 4.8% …

China's Economic Growth Soars, Boosting Hopes for Full-Year Target
2 months, 3 weeks ago

China's Economic Growth Soars, Boosting Hopes for Full-Year Target

China Daily  

China's economic growth in the third quarter has exceeded expectations, with the country's GDP growing by 4.6 percent year-on-year. This strong performance is expected to continue in the rest of the year, with analysts predicting a full-year growth target of 5.0 percent or higher. The government has also eased monetary and property policies, increased investment spending, and vowed to replace …

Q3 growth ups hopes of meeting full-year target
2 months, 3 weeks ago

Q3 growth ups hopes of meeting full-year target

China Daily  

By Zhou Lanxu and Ouyang Shijia | China Daily | Updated: 2024-10-19 07:25 A view of Beijing's CBD area on Aug 19, 2022. David Chao, Invesco's global market strategist for the Asia-Pacific region, said: "Given the recently announced stimulus measures, I'm confident that economic growth is likely to accelerate in the fourth quarter, which is likely to boost full-year 2024 …

Growth target within reach on policy effort
2 months, 3 weeks ago

Growth target within reach on policy effort

The Independent  

With a potent set of new policies being implemented on various fronts, China is on course to achieving its full-year economic growth target of around 5 per cent, signalling the resilience of the country’s economy despite challenges at home and abroad, said a senior expert. Chen Wenling, chief economist at the China Centre for International Economic Exchanges in Beijing, said …

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target
2 months, 3 weeks ago

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official target

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The latest data show the world’s second largest economy …

China's Economic Turnaround: A Positive Step but Structural Issues Remain
2 months, 3 weeks ago

China's Economic Turnaround: A Positive Step but Structural Issues Remain

Hindustan Times  

China's economy is showing signs of a turnaround, with the latest round of stimulus measures expected to boost growth. The bank upgrades its forecasts for 2024 and 2025, with an upgraded growth forecast for next year to 4.7%. Despite the positive outlook, Goldman Sachs cautions that structural issues such as demographics and debt remain and pose challenges beyond 2026.

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?
2 months, 3 weeks ago

Here’s How Bad China’s Economy Really Is. Can It Be Fixed?

Bloomberg  

China’s economic growth target of 5% this year is looking ambitious, given sluggish consumer spending, an uncertain outlook for the country’s exports and a still shaky property market. Fewer than a fifth of economists surveyed by Bloomberg Terminal Bloomberg were predicting gross domestic product would expand by 5% in 2024, as analysts at lenders such as Bank of America Corp. …

Keys to achieving China's annual economic growth target of 5%
3 months, 2 weeks ago

Keys to achieving China's annual economic growth target of 5%

China Daily  

CAI MENG/CHINA DAILY To assess whether we can reach the annual economic growth target, we first need a reasonable analytical framework. Using the simplest expenditure method to analyze the possibility of achieving around 5 percent GDP growth in 2024, we must consider the three main components of economic growth: final consumption, capital formation, and net exports. If the expansionary policies …

China's new growth drivers further gain momentum: index
4 months, 1 week ago

China's new growth drivers further gain momentum: index

China Daily  

A humanoid smart robot works at an auto production facility in Ningbo, Zhejiang province. BEIJING -- China's new growth drivers have gained momentum last year as the country continued efforts to foster economic vitality and encourage technological innovation, official data showed Saturday. The reading suggested that the country's new growth drivers, featured by new industries, new business forms and models, …

Efforts to boost consumption urged
4 months, 2 weeks ago

Efforts to boost consumption urged

China Daily  

A growing number of economists are calling on Chinese policymakers to ramp up efforts to revive consumer sentiment and stabilize expectations, in a bid to address the pressing challenges of still-weak domestic demand and to bolster the world's second-largest economy. Among the traditional trio driving China's economic development — exports, investment and consumption — the economists emphasized that boosting consumption …

China on track to reach economic growth goal
4 months, 3 weeks ago

China on track to reach economic growth goal

China Daily  

Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee delivers a speech at a news conference held in Beijing, on Tuesday. China is well poised to achieve its economic growth goal of about 5 percent this year, as the country continues to boost domestic demand, a senior expert said on Tuesday. Xu also said insufficient …

Experts see economy stabilizing
4 months, 3 weeks ago

Experts see economy stabilizing

China Daily  

A worker conducts motion tests on AGV handling robots at the integrated AMT workshop of FAW Jiefang Automotive Co, a subsidiary of China FAW Group, in Changchun, Jilin province, on Aug 5, 2024. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces will inject fresh …

Experts see economy stabilizing
4 months, 3 weeks ago

Experts see economy stabilizing

China Daily  

China's economy is likely to gradually stabilize in the third and fourth quarters, as policymakers are poised to step up stimulus measures aimed at stabilizing growth and deepening economic structural reforms, prominent economists said on Monday. Consumption will remain a key growth driver in the remaining months this year, while the country's accelerated push for fostering new quality productive forces …

Chinese economy advances with steady growth momentum
4 months, 3 weeks ago

Chinese economy advances with steady growth momentum

China Daily  

The skyline of Beijing. Last month, a broad range of key indicators maintained steady expansion, with production and demand on the rise, overall employment remaining stable, and new growth drivers building up, according to the National Bureau of Statistics. Last month, retail sales of consumer goods went up 2.7 percent year on year to nearly 3.78 trillion yuan, accelerating from …

New economic model set to boost strength
5 months, 2 weeks ago

New economic model set to boost strength

China Daily  

China will likely pursue a new economic model to drive a smooth transition in growth engines, potentially providing an alternative solution to the global challenge of low productivity growth, according to leading economists and executives. "I think this is really very unique, what I will call the China model or China economic model," said Zhu Min, former deputy managing director …

On track to attain 2024 growth goal
5 months, 2 weeks ago

On track to attain 2024 growth goal

China Daily  

Two participants at the 2024 Summer Davos Forum exchange views in Dalian, Liaoning province. YAO JIANFENG/XINHUA China is on track to reach the 2024 GDP growth target of around 5 percent given the strong policy stimulus, continued recovery trend and gradual recovery in domestic demand, experts and entrepreneurs said. Despite facing challenges from a sluggish real estate market, still-weak demand …

Greater reform set to lift growth till 2029
5 months, 3 weeks ago

Greater reform set to lift growth till 2029

China Daily  

A view of a privately owned textile company in Nantong, Jiangsu province. Greater reform to advance urbanization and reinforce the role of the market in the economy will play a pivotal role in lifting China's economic growth in the coming five years, which should be able to reach about 5 percent annually, economists and officials said on Friday. The period …

China's economic performance resilient amid challenges
5 months, 3 weeks ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

China's economic performance resilient amid challenges
5 months, 3 weeks ago

China's economic performance resilient amid challenges

China Daily  

The skyline of Beijing. China's economy demonstrated a stable expansion in the first half of 2024, achieving a year-on-year GDP growth of 5 percent, equivalent to 61.68 trillion yuan, according to data released by the National Bureau of Statistics on Monday. Key economic indicators GDP growth The first half of 2024 saw China's GDP grow by 5 percent year-on-year. China's …

Consumer confidence important to ensuring positive economic growth
5 months, 3 weeks ago

Consumer confidence important to ensuring positive economic growth

China Daily  

Employees work at an electrical machinery manufacturer in Haian, Jiangsu province. ZHAI HUIYONG/XINHUA China's gross domestic product grew 5.0 percent year-on-year in the first half of this year, National Bureau of Statistics data show, while GDP grew 5.3 percent in the first quarter and 4.7 percent in the second quarter, showing signs of decelerating growth. The momentum of global economic …

First-half figures offer solid base for whole-year growth
5 months, 3 weeks ago

First-half figures offer solid base for whole-year growth

China Daily  

Visitors throng a beach in Dalian, Liaoning province, on Sunday. China's economy grew by 5 percent in the first half of this year despite challenges such as still-weak demand and a complex external environment, providing a solid base for achieving the whole-year growth target, analysts said on Monday. Zhou Maohua, a researcher at China Everbright Bank, said, "The second-quarter growth …

Chinese economy gathers steam amid targeted policy mix
5 months, 3 weeks ago

Chinese economy gathers steam amid targeted policy mix

China Daily  

Containers are unloaded at Qingdao Port in Shandong province in March. BEIJING - Multiple indicators have pointed to improved performance of the Chinese economy in the first half, signaling sustained recovery momentum as the country navigates hurdles and headwinds with a targeted policy mix. Speaking at a symposium on the economic situation last week, Premier Li Qiang said that the …

China's economic growth sharply below forecast in last quarter as consumer demand weakens
5 months, 3 weeks ago

China's economic growth sharply below forecast in last quarter as consumer demand weakens

India TV News  

China’s economy grew at a slower-than-forecast 4.7 per cent annual rate in the last quarter, the government said on Monday. The world's second-largest economy grew 4.7 per cent in April-June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1 per cent analyst forecast in a Reuters poll. United Nations' projections for India The United …

World Bank and Barclays raise GDP forecast for country
5 months, 4 weeks ago

World Bank and Barclays raise GDP forecast for country

The Independent  

Foreign institutions have raised their forecasts for China’s economic growth this year amid its better-than-expected first-quarter performance, strong policy stimulus and resilience in exports. Barclays recently revised its China GDP forecast from 4.4 per cent to 5 per cent, and the World Bank changed its forecast from 4.5 per cent to 4.8 per cent. China is on track for a …

Economists say H1 GDP likely to top 5%
6 months ago

Economists say H1 GDP likely to top 5%

China Daily  

China's economy will likely expand by over 5 percent in the first half of this year amid strong policy stimulus, robust industrial production and stable external demand, providing a solid base for achieving its annual growth target of around 5 percent, economists said on Monday. "China's economy has made a good start at the beginning of the year and the …

China needs more momentum in its economic recovery
6 months ago

China needs more momentum in its economic recovery

China Daily  

CAI MENG/CHINA DAILY China's economy is still in a post-pandemic recovery stage, with production indicators in January and February showing positive trends. From January to April, China's exports grew 11.4 percent year-on-year, and manufacturing investment maintained a rapid growth rate. Driven by exports and manufacturing investment, industrial production recovered relatively well, with a growth rate of 6 percent from January …

【双语财讯】世界银行和巴克莱银行上调中国增速预期
6 months ago

【双语财讯】世界银行和巴克莱银行上调中国增速预期

China Daily  

伴随着中国经济企稳向好的势头逐渐巩固，近期世界银行和巴克莱银行等机构纷纷上调了对于中国经济增长的预期。 File photo shows the Lujiazui area in East China's Shanghai. Foreign institutions have raised their forecasts for China's economic growth this year amid the nation's better-than-expected first-quarter performance, strong policy stimulus and resilience in exports. 巴克莱银行最近将其对中国GDP增速的预期从此前的4.4%上调至5%，世界银行则将其预期从此前的4.5%上调至4.8%。 China's economy is on track for a steady rebound and the nation is poised to meet its preset annual growth target of around …

【双语财讯】世界银行和巴克莱银行上调中国增速预期
6 months ago

【双语财讯】世界银行和巴克莱银行上调中国增速预期

China Daily  

伴随着中国经济企稳向好的势头逐渐巩固，近期世界银行和巴克莱银行等机构纷纷上调了对于中国经济增长的预期。 File photo shows the Lujiazui area in East China's Shanghai. Foreign institutions have raised their forecasts for China's economic growth this year amid the nation's better-than-expected first-quarter performance, strong policy stimulus and resilience in exports. 巴克莱银行最近将其对中国GDP增速的预期从此前的4.4%上调至5%，世界银行则将其预期从此前的4.5%上调至4.8%。 China's economy is on track for a steady rebound and the nation is poised to meet its preset annual growth target of around …

Effective policy to steer economy forward
6 months, 1 week ago

Effective policy to steer economy forward

China Daily  

Employees work on the production line of a textile company in Ganzhou, Jiangxi province. China's economy is on track for steady recovery in the second half given effective policy stimulus measures and thriving new growth drivers, said economists and executives. The Caixin China General Manufacturing Purchasing Managers' Index rose to 51.8 in June from 51.7 in May, the highest level …

China's new development means opportunities for world
6 months, 3 weeks ago

China's new development means opportunities for world

China Daily  

Tourists visit a cultural block in Xiangyang, central China's Hubei province, June 10, 2024. Recently, the World Bank raised its forecast for China's 2024 economic growth to 4.8 percent, 0.3 percentage points higher from the previous forecast. The International Monetary Fund also revised up China's economic outlook to 5 percent, 0.4 percentage points higher than the previous forecast. In the …

Policy and resilience raise confidence in stable economic growth this year
7 months, 1 week ago

Policy and resilience raise confidence in stable economic growth this year

China Daily  

Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. The International Monetary Fund has raised its forecast for China's economic growth for 2024 to 5.0 percent from the previous 4.6 percent. The IMF also raised its forecast for China's economic growth to 4.5 percent for next year, up 0.4 percentage points compared with its April projection. …

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth
7 months, 1 week ago

IMF upgrades its forecast for China’s economy, but says reforms are needed to support growth

Associated Press  

The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF’s report, issued late Tuesday, said the world’s second-largest economy will likely expand at a 5% annual rate this year, based on its growth in the first quarter and recent moves to support the property sector. …

Stabilizing economy augurs well for global growth
7 months, 4 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 4 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Stabilizing economy augurs well for global growth
7 months, 4 weeks ago

Stabilizing economy augurs well for global growth

China Daily  

Export-bound vehicles await loading at Lianyungang Port, Jiangsu province. WANG CHUN/FOR CHINA DAILY China's economy is showing fresh signs of stabilization with a solid first-quarter performance this year, laying a strong foundation for achieving its preset growth target of around 5 percent for 2024, said economists and global executives. Looking ahead, Liu said she believes China's 2024 annual growth target …

Discover Related