China's Target Should Be Over 6% In 2023 - Former Adviser

China’s 2023 GDP growth target should be above 6% , according to Jia Kang, former director of the Institute of Fiscal Science of the Ministry of Finance. As reported by the 21st Century Business Herald, Jia believes 2022 growth will be around 3%, which sets a low base for next year's target. Jia says the central government should maintain a proactive fiscal policy with the deficit rate exceeding 3% in 2023, and manage the relationship between investment and consumption, whilst boosting private sector confidence. He believes in the short run the resumption of work following the lifting of covid-restrictions should be well managed, and in the long run China's urbanization development potential is a long term engine for economic growth.