Posted 3/6/2024, 3:00:19 PM
China Aims for 5% GDP Growth in 2023 Despite Economic Headwinds
- China sets 5% GDP growth target for 2023, describes it as "positive goal reachable with a jump"
- Officials acknowledge headwinds like property downturn, deflation risks, but say policy tools can support economy
- Replacement programs for used cars, goods aimed to stimulate consumer spending
- "New three exports" - EVs, batteries, solar - seen as new engines of growth, but face risks
- Stimulus policies like rate cuts, tax relief to continue supporting economy
