Technical Analysis

China government advisers reportedly to recommend modest growth target for 2023

The report by Reuters say that China leaders are expected to chart course for next year, prioritise stimulus over reform at the Central Economic Work Conference in December. The officials cited say that “we are not optimistic about the economic situation” and that “downward pressures are still there even as we make some policy adjustments on COVID”.

That said, they will recommend a modest growth target ranging from 4.5% to 5.5% – which is a pickup compared to this year’s growth at least. The range was one given by four of the advisers cited while one said that “we should set a growth target around 5% for next year”.

Even though China leaders will meet in December to set the growth outlook, it is typically the case that any targets will not be announced until the country’s annual parliament meeting – usually in March.

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