BEJING, Mar 30 recovery, Premier Li Qiang said on Thursday at the Asian Economic Forum in Boao on the Chinese island of Hainan.
«In the first two months of this year, the Chinese economy showed an encouraging momentum of recovery. The situation in March was even better than in January and February,» Li Qiang said, broadcast by China Central Television
According to the Premier of the State Council PRC, economic fundamentals, including growth in consumption and investment, employment and prices, remained broadly stable, and market expectations improved.
Li Qiang stressed that China will continue to strive for progress, prioritizing stable development, combine the strategy of expanding domestic demand with the deepening of structural reform on the supply side, implement new measures to expand market access and improve the business climate, and effectively prevent and address major risks. and ensure the overall stability of the country's financial sector.
Earlier, Li Qiang said that it will not be easy for China to reach the set 5% GDP growth target this year, given new challenges and a high base, for this the government will need to redouble its efforts.
According to the plan for 2023, the Chinese authorities forecast GDP growth of about 5%. At the same time, experts are more optimistic about the economic development of the country. For example, Chen Fengying, former director of the Center for World Economy at the China Institute of Contemporary International Relations, said that China's economic growth rate could well reach 6%. According to her, the current government did not want to name too high a figure, but indicated 5% in the forecast, since last year it was not possible to achieve the predicted indicators.
China's GDP in 2022, amid numerous local outbreaks of coronavirus infection and an unstable international situation, grew by 3% compared to 2021, which was lower than the official forecast, which was about 5.5%. The volume of GDP amounted to 121.02 trillion yuan (17.95 trillion dollars).
The Asian Economic Forum, which is informally called «Eastern Davos», opened on Tuesday in Boao on the Chinese island of Hainan.
This year's forum is held from 28 to 31 March under the motto «An Uncertain World: Unity and Cooperation to Overcome Challenges, Openness and Inclusion to Promote Development». For the first time since the start of the pandemic, the event is being held completely offline.
The Asian Forum in Boao was established in 2001. Its tasks are to develop coordination and cooperation between Asian countries, intensify dialogue and economic ties with other regions of the world, create a platform for establishing a dialogue on economic, social and other issues between officials, entrepreneurs, specialists and scientists.
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