China Welcomes Foreign Investment, Sets 2023 Growth Target Around 5% Despite Headwinds

• China will issue new regulations on market access and cross-border data flows • Premier Li welcomed foreign companies to invest further in China • China is developing emerging industries like biomanufacturing and AI • China still has fiscal and monetary policy room to stimulate the economy • China set a 2023 GDP growth target of around 5% despite economic headwinds