China Should Aim For 5% Growth In 2023

China should set its 2023 growth target at around 5%, which would match the country’s potential growth level, support employment, prevent risks and boost market confidence, 21st Century Business Herald reported citing Zhu Baoliang, chief economist of the State Information Center. Given the low base this year, the economy is expected to achieve a growth rate of 5% or even higher, as real estate investment may stop declining and retail sales could rebound, the newspaper said citing Zhang Yongjun, deputy chief economist at China Center for International Economic Exchanges. Zhang added that next year’s proactive fiscal policy should be strengthened, and monetary policy should remain relatively loose, the newspaper said.