China's reasonable economic goals

China economic goals

China's reasonable economic goals - چین کے معقول معاشی اہداف

 In the recent work report presented by China, it has announced its main economic goals for 2023, which are considered reasonable and appropriate by various circles. In this regard, the gross national product (GDP) rate The growth target is set at around 5%. Similarly, China has set a target of creating 12 million new jobs in urban areas, while the commendable aspect is that the country has successfully completed its employment target in 2022. Regarding inflation, China plans to increase the consumer price index by about 3 percent, with personal income generally in line with the country's national development target. Citizens' incomes will be increased through multiple channels and a recovery in consumption and services will be promoted while policy incentives will be introduced to encourage private investment.

China has also made it clear that in 2023, the economy will be stabilized while ensuring overall stability and the progress achieved will be carried forward. In this context, the country's active fiscal policy will be more effective, and The ratio of deficit to GDP for the year is estimated at 3 percent. It is also emphasized that the country should speed up the modernization of the industrial system by accelerating research and development and application of modern technology. The focus should be on the digital economy and the development of the platform economy should be supported. Likewise, the development of the non-governmental sector should be encouraged, supported, and guided. Reforms in government-owned institutions and the protection of the rights and interests of businessmen should be deepened according to the law.

The report also mentions the acceleration of efforts to attract foreign investment and the use of foreign capital. China has made it clear that it will take active steps to implement high-quality economic and trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Foreign companies are assured that China's wide and open market will provide more opportunities for businesses around the world. Similarly, China has curbed economic and financial risks, stabilized grain production, and green development. The side has also expressed commitment to continue the transition and promote social programs.

In the broader context, international investors have also predicted a strong recovery in the Chinese economy. In the latest World Economic Outlook report, the IMF raised its 2023 growth estimate for China to 5.2 percent from 4.4 percent. Is. Morgan Stanley raised its outlook for China's GDP growth to 5.7 percent in a research note released in January, up 0.3 percent from its previous estimate. Goldman Sachs has increased its growth forecasts for the Chinese economy, while Deutsche Bank has also expressed positive expectations regarding the acceleration of China's economic activities. If we look at the goals, their main goal is to improve the quality of economic development of the country and improve the quality of life of the people, but since China is the second largest economy in the world, the world circles are hopeful that they will help the world economy to be stable and There will also be a significant help in healthy development.

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