Beijing Local Government Targets 4.5% Growth In 2023

Beijing’s local government is targeting 4.5% of GDP growth for the city in 2023, according to a recent report. Municipal leaders are expecting Beijing’s public revenue will increase by 4%, that unemployment will be under 5%, and consumer prices to increase by 3%. Looking to enhance people’s livelihoods, the report aims to add 260,000 new jobs, and build 90,000 units of affordable housing, as well as develop social security and private pension schemes. For financial services, the Beijing Stock Exchange will expand its scale of transactions and promote the use of the digital RMB. Key industries to focus on are: integrated circuits, gene therapy, pharmaceutical, satellite internet, hydrogen energy, and new energy vehicles. (Source: Securities Times)