China has set its 2023 growth target for its economy at around 5%, according to a government work report released at the opening of the country's annual meeting of parliament on Sunday. That compares with its 2022 target of around 5.5%.

The Chinese economy expanded 3% last year, significantly missing the 2022 target and marking one of the slowest rates of growth in almost half a century.

A 2023 government budget deficit target of 3.0% of gross domestic product has been set, according to the report, widening from a deficit goal of around 2.8% last year.

In the report, China has set a 2023 target of around 3% for its Consumer Price Index (CPI), unchanged from its 2022 target. The CPI rose 2.0% last year.

https://www.marketscreener.com/news/latest/China-sets-slightly-lower-annual-GDP-growth-target-government-report--43165026/