Beijing, March 7 -- "The main expected goal of this year's development is: GDP growth of about 5%" - After Chinese Premier Li Keqiang announced the expected target of economic growth in 2023 in the government work report on the 5th, a number of foreign media gave positive comments, believing that China's economic recovery is in line with or even higher than expected, "5%" is a "completely achievable goal", and it is also a "very wise, accurate and sober assessment" of the Chinese government's situation in the country.
Accurate assessment of China's "modest targets"
On March 5, 2023, the first session of the 14th National People's Congress opened at the Great Hall of the People in Beijing.
A number of foreign media have paid attention to the fact that the Chinese government has set its economic growth target for 2023 at about 5%, and consumer prices have increased by about 3%. Reuters called this economic growth rate a "modest target."
Wang Tao, chief economist of UBS Securities China, pointed out to Bloomberg that China is more cautious in setting targets, on the one hand, considering the uncertainty of the domestic and foreign environment, and on the other hand, considering not to overstimulate the economy. Recent economic conditions suggest that China's economic recovery is in line with or even higher than expected.
The Russian Satellite News Agency quoted Mikhail Karpov, chief researcher of the Regional Research Center of the Moscow State Institute of International Relations, as saying that the 5% GDP growth target for 2023 is a "completely achievable goal" for China and a "very wise, accurate and sober assessment" of the Chinese government's situation in the country.
In February 2023, China's manufacturing purchasing managers' index (PMI) hit its best data in nearly 11 years, highlighting how quickly China's economic activity has recovered after the optimization and adjustment of epidemic prevention and control measures, CNN said.
Moody's Investors Service raised its economic growth forecast for 2023 and 2024 to 5 percent from 4 percent previously, citing a stronger-than-expected economic recovery in the short term.
Qatar's Al Jazeera quoted ING analysis that the 5% growth target is not overly optimistic and does not require too much money to promote economic growth. China is more concerned with the challenges of long-term economic development.
Multi-pronged approach to China's economy "seeking progress while maintaining stability"
On March 5, 2023, the First Session of the 14th National People's Congress opened at the Great Hall of the People in Beijing. Photo by Sheng Jiapeng, reporter of China News Agency
In addition to good expectations, the outside world's confidence in China's economy also comes from China's "steady and steady fighting".
Foreign media have noticed that in the 2023 government report, the word "stability" appears many times. Agence France-Presse pointed out that in the past year, China has overcome huge difficulties and challenges and achieved smooth economic operation.
The Wall Street Journal of the United States said that the 2023 Chinese government work report mentioned "seeking progress while maintaining stability". In the first two months of the year, measures of activity in China's manufacturing, services and construction sectors all rebounded strongly.
How will China's economy make steady progress in 2023? Foreign media observed many recommendations in the government work report.
Deutsche Welle believes that "government investment and policy incentives should effectively drive investment in the whole society", echoing China's goal of stabilizing the economy.
CNBC noted that "prudent monetary policy should be precise and powerful."
The Pakistan Observer quoted Yi Gang, governor of People's Bank of China, as saying in the article that China will accurately and effectively implement a prudent monetary policy and create a suitable monetary and financial environment for high-quality economic development.
Integrating into the world China sends a positive signal
Russia's Kommersant noted that in recent years, China has focused on developing new foreign trade formats, setting up 152 new cross-border e-commerce comprehensive pilot zones, simplifying customs procedures, and reducing the total tariff level from 9.8% to 7.4%. At a time when protectionism, trade barriers and sanctions have become major challenges facing the economy, China "firmly expands opening up to the outside world and deepens mutually beneficial and win-win international economic and trade cooperation."
Hong Kong's South China Morning Post pointed out that the 2023 government work report sent a strong signal that China wants to better integrate into global trade and resolutely improve China's attractiveness to foreign investors.
Rossiya Zeitung reported that China plans to accelerate the process of becoming a major trading country, will increase the import of advanced technology, equipment, energy and other products, and encourage the development of cross-border e-commerce. China will facilitate foreign investment into its own market and provide more opportunities for foreign companies to operate in China.
Alexei Maslov, acting dean of the School of Oriental and African Studies at Moscow State University, pointed out that China is planning to increase economic growth, which means that China will need more energy and will be more active in supplying products to foreign markets, which is a positive signal for the global economy. (End)
Source: China News Network