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Economists See China ‘Conservative’ GDP Goal a Cautious Sign

  • ‘No urgency’ for big economic stimulus in 2023, Pinpoint says
  • Job goal shows importance of growth quality, Guotai Junan says
Bloomberg business news
China Sets GDP Growth Target at Around 5% for 2023
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China’s economic growth target for 2023 is a conservative goal that suggests the government is wary of challenges that may weigh on the economy and wants to account for risks to a recovery that is steadily building momentum.

That’s according to economists who weighed in after Sunday’s announcement that Beijing will target gross domestic product expansion of around 5% for the year. The goal is somewhat more muted than expectations among economists that China would set a growth target that was higher than 5%. It’s also below the median estimate for an expansion of 5.3% this year, according to economists surveyed by Bloomberg.