China is optimistic in attaining its growth target for 2023

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Growth
Growth

China is highly confident in meeting its growth target for 2023, said a senior official with the National Bureau of Statistics (NBS) on Wednesday.

China’s gross domestic product (GDP) grew 5.2 percent year on year in the first three quarters of this year, paving a solid foundation for the country to achieve its annual GDP growth target of around 5 percent in 2023, Sheng Laiyun, deputy head of the NBS told a press conference.

To fulfil the annual growth target, China’s GDP needs to meet a growth target of at least 4.4 percent in the fourth quarter, Sheng added.

The growing momentum in the economic recovery process, a slew of pro-growth policies and a relatively lower base from the same period last year will contribute to the country’s economic growth in the fourth quarter, according to the NBS official.

There has been a positive recovery and improvement in supply and demand during the first nine months.

Additionally, the expectations and operating situation of the real economy sector have also shown positive signs, Sheng said, adding that the economic operation will continue its sound momentum in the fourth quarter.

In the meantime, as favorable policies continue to be implemented, the positive effects will continue to be unleashed, according to the NBS.

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