China on course to achieve 5% economic growth target in 2023: premier

rawan239

12 months ago

China is on course to achieve its five percent target foreconomic growthin 2023 set by Beijing earlier this year, premier Li Qiang said.

China is grappling with a slowing post-Covid recovery, with a number of lacklustre indicators in recent weeks signalling the rebound is running out of steam.

Beijing’s central bank last week cut two key interest rates in a bid to counter

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the slowdown in the world’s second-largest economy.

Reports this month have suggested Beijing is lining up a tranche of measures targeting multiple areas of the economy, particularly the real estate sector, which makes up a huge portion ofgross domestic product.