Posted 10/9/2023, 12:00:21 PM
China on Track to Hit 2023 GDP Growth Target Despite Headwinds, Says Government Think Tank
- China's GDP growth predicted to hit 2023 target of around 5%, according to government think tank CASS
- CASS forecasts 5.1% GDP growth in Q4 2022 and 4.6% growth in Q3 to achieve full-year target
- Tailwinds like service sector recovery driving growth, but headwinds remain like weak global demand
- CASS says more proactive policies needed in advance to ensure stable growth in 2023
- But international banks more doubtful on China meeting target amid lack of large stimulus
