{"id":293816,"date":"2023-03-05T01:45:00","date_gmt":"2023-03-05T01:45:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/03\/05\/china-sets-economic-growth-target-at-5-for-2023-lowest-in-decades\/"},"modified":"2023-03-05T01:45:00","modified_gmt":"2023-03-05T01:45:00","slug":"china-sets-economic-growth-target-at-5-for-2023-lowest-in-decades","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2023\/03\/05\/china-sets-economic-growth-target-at-5-for-2023-lowest-in-decades\/","title":{"rendered":"China Sets Economic Growth Target At 5% For 2023, Lowest In Decades"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div itemprop=\"articleBody\" id=\"ins_storybody\"><!-- \n\n<div itemprop=\"articleBody\" class=\"sp-cn ins_storybody\" id=\"ins_storybody\">--><\/p>\n<div class=\"ins_instory_dv\">\n<div class=\"ins_instory_dv_cont\"><img decoding=\"async\" title=\"China Sets Economic Growth Target At 5% For 2023, Lowest In Decades\" alt=\"China Sets Economic Growth Target At 5% For 2023, Lowest In Decades\" id=\"story_image_main\" src=\"https:\/\/c.ndtvimg.com\/2023-03\/q3sbl03g_china-parliament_625x300_05_March_23.jpg\"\/><\/div>\n<p class=\"ins_instory_dv_caption sp_b\">China&#8217;s annual National People&#8217;s Congress opened in Beijing on Sunday.<\/p>\n<\/div>\n<p><b class=\"place_cont\">Beijing: <\/b><\/p>\n<p>China announced one of its lowest economic growth targets in years Sunday, kicking off meetings of its rubber-stamp parliament set to hand Xi Jinping a third term as president as well as approve an increase in defence spending.<\/p>\n<p>In an opening report, the Chinese government said it would aim for economic growth of &#8220;around five percent&#8221; for the coming year &#8212; one of its lowest in decades.<\/p>\n<p>China posted just three percent growth last year, missing its stated target of around 5.5 percent by a wide margin as the economy strained under the impact of strict Covid containment policies and a real estate crisis.<\/p>\n<p>&#8220;Under the strong leadership of the Party Central Committee, we carried out Covid-19 response and pursued economic and social development in an effective and well-coordinated way,&#8221; the government report, delivered by outgoing Premier Li Keqiang at the opening of the National People&#8217;s Congress Sunday, said.<\/p>\n<p>&#8220;Overcoming great difficulties and challenges, we succeeded in maintaining overall stable economic performance,&#8221; it added.<\/p>\n<p>There will be few surprises at the carefully choreographed National People&#8217;s Congress, analysts say, with thousands of politicians flown in from across China to vote on laws and personnel changes pre-approved by the ruling Communist Party (CCP).<\/p>\n<p>Top of the NPC&#8217;s agenda will be Friday&#8217;s norm-busting reappointment of Xi as president, after he locked in another five years as head of the party and the military &#8212; the two more significant leadership positions in Chinese politics &#8212; in an October congress.<\/p>\n<p>Since then, the 69-year-old Xi&#8217;s leadership has faced unexpected challenges and scrutiny, with mass protests over his zero-Covid policy and its subsequent abandonment that saw a deadly coronavirus surge.<\/p>\n<p>But those issues are almost certain to be avoided at this week&#8217;s Beijing conclave, which will also see the unveiling of a Xi confidant and former Shanghai party chief as the new premier.<\/p>\n<p><strong>No challengers<\/strong><\/p>\n<p>Xi enjoys a &#8220;pretty strong&#8221; position at the top of the party that makes him virtually unchallengeable, Alfred Muluan Wu, an associate professor at the National University of Singapore&#8217;s Lee Kuan Yew School of Public Policy, told AFP.<\/p>\n<p>Steve Tsang, director of the SOAS China Institute at the University of London, said Xi now had an opportunity to flaunt his response to the pressure created by last year&#8217;s unrest.<\/p>\n<p>&#8220;He acted decisively when the protests included calls for him and the CCP to step down. He quashed them and removed the basic cause,&#8221; he told AFP.<\/p>\n<p>&#8220;He can present himself as leading from the front, rather than being pushed to react.&#8221;<\/p>\n<p>Also on the cards for lawmakers will be China&#8217;s slowing economy, as well as an increase in the defence budget, the second-largest in the world.<\/p>\n<p>Delegates to the NPC &#8212; and to the concurrent &#8220;political consultative conference&#8221; (CPPCC) which began on Saturday &#8212; will also discuss a range of issues from the economic recovery to improved sex education in schools, according to state media reports.<\/p>\n<p>The meetings serve as a forum for attendees to present pet projects, but they have little say in broader questions of how China is run.<\/p>\n<p><i>(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n<p><span itemprop=\"video\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/VideoObject\"><meta itemprop=\"headline\" content=\"3 States Down, 6 More To Go: What This Year's Poll Results Mean For 2024 Elections\"\/><meta itemprop=\"name\" content=\"3 States Down, 6 More To Go: What This Year's Poll Results Mean For 2024 Elections\"\/><meta itemprop=\"description\" content=\"3 States Down, 6 More To Go: What This Year's Poll Results Mean For 2024 Elections\"\/><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/c.ndtvimg.com\/2023-03\/q3sbl03g_china-parliament_625x300_05_March_23.jpg\"\/><meta itemprop=\"uploadDate\" content=\"2023-03-05T07:15:20+05:30\"\/><meta itemprop=\"embedUrl\" content=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=685928&amp;category=embed&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=0&amp;cache=2022\"\/><meta itemprop=\"ContentUrl\" content=\"https:\/\/ndtvod.pc.cdn.bitgravity.com\/23372\/ndtv\/03032023_n_TheBigFight_172622_146565_320.mp4\"\/><\/span><\/p>\n<div class=\"ins_instory_dv_cont externalVideo fvotd\">\n<h3 class=\"s-ttl\">Featured Video Of The Day<\/h3>\n<p><iframe id=\"videoembed\" class=\"lozad\" src=\"https:\/\/c.ndtvimg.com\/2023-03\/bkbdpfe4_bigfight_640x480_03_March_23.jpg\" data-src=\"https:\/\/www.ndtv.com\/video\/embed-player\/?id=685928&amp;category=embed&amp;pWidth=650&amp;pHeight=403&amp;embed_type=story&amp;mute=1&amp;autostart=1&amp;mutestart=true&amp;ctitle=0&amp;cache=2022\" scrolling=\"no\" frameborder=\"0\" allowtransparency=\"true\" style=\"border:none; overflow:hidden; width:100%; height:403px; padding-bottom: 0px;padding-left:0px;\"><\/iframe><\/p>\n<p>3 States Down, 6 More To Go: What This Year&#8217;s Poll Results Mean For 2024 Elections<\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.ndtv.com\/world-news\/china-sets-economic-growth-target-at-5-for-2023-lowest-in-decades-3835510\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] China&#8217;s annual National People&#8217;s Congress opened in Beijing on Sunday. Beijing: China announced one of its lowest economic growth targets in years Sunday, kicking off meetings of its rubber-stamp parliament set to hand Xi Jinping a third term as president as well as approve an increase in defence spending. In an opening report, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":293817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[358233,358232,7789],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/293816"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=293816"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/293816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/293817"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=293816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=293816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=293816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}