Posted 3/5/2024, 11:15:00 AM
China Targets 5% Growth in 2023 Amid Economic Headwinds
- China sets 2023 economic growth target at around 5%, acknowledging challenges to meet goal
- Plans to boost infrastructure spending and support economy, but no major stimulus package
- Aims to issue $139B in long-term bonds to fund "national strategies" like housing and security
- Sees weak domestic demand, overcapacity, and financial risks still weighing on recovery
- Focuses on new development model for housing including subsidized units to ease slump