Big dog text
Although the annual growth rate of 3% is far lower than the target set at the beginning of the year, it is basically in line with market expectations, and it is also higher than that in 2020.
From a quarterly perspective, only the first quarter of China’s economy was relatively normal, and the second quarter was due to the impact of the Shanghai epidemic and the tightening of national epidemic prevention and control due to the Shanghai epidemic. In the fourth quarter, the nationwide epidemic broke out, but subsequent optimization measures allowed the economy to gradually recover, slightly better than in the second quarter.
Entering 2023, major institutions are optimistic about China’s economic growth, predicting that the GDP growth rate will basically be in the range of 5-6%. At present, after the convening of the two sessions in various places, they have basically given some local economic growth targets. The GDP growth targets set by the economically large provinces of Guangdong, Zhejiang and Shandong are all above 5%, and the current focus of each locality is to develop the economy. It can be said that 2023 is a year worth looking forward to.
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