Chongqing - Welcome to Buzzword: 2023 Two Sessions. I'm Bridget from Bridging News, and today's buzzword is "2023 GDP Growth Target." Let's dive into it.
On March 13, Chinese Premier Li Qiang met the press after the first session of the 14th National People's Congress. He explained that achieving a gross domestic product (GDP) growth target of around 5 percent in 2023, based on China's current high economic output, is not an easy task and will require redoubled efforts.
To achieve this, China will prioritize stability and seek progress while maintaining stability, emphasizing stable growth, employment, and prices. The country will also focus on making new advancements in high-quality development. To support these goals, China plans to introduce a combination of macro policies, measures to expand demand, policies for reform and innovation, and policies to prevent and defuse risks.
Premier Li noted that China has favorable conditions for economic development, including a large market, a well-functioning industrial system, a rich supply of human resources, a strong development foundation, and notable institutional strength.
Premier Li also mentioned that China's economy has been stabilizing and picking up in the first two months of 2023, and some international organizations have upgraded their growth forecasts for China this year. Li expressed his full confidence in China's economic prospects for 2023.