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China confirmed solid economic dynamics for 2023

China confirmed solid economic dynamics for 2023

In the context of the global financial crisis, in China ratify that the 2023 projections for the economy show a “solid dynamic”. Who ensured this scenario was Chinese Premier Li Qiang, during his speech at the boao forumon the island of Hainan.

The Chinese official second in line to Xi Kinpingpromised to support companies affected by the “Zero covid” policysomething that generated a negative impact in these three years to the second largest economic power in the world.

China Finance.webp

China reaffirms economic and financial strength by 2023

The forum was attended by leaders and officials from around the world, including the president of the International Monetary Fund (IMF), Kristalina Georgievawho witnessed Li’s speech at the boao forum, on the island of Hainan, located in the south of China.

Li’s statement was the first at an international conference since he was appointed the government’s number two in early March. “The dynamics and state of economic growth are strong”declared before dozens of foreign leaders and personalities from the business world.

Li’s remarks came amid fears for the international banking sector and growing concern over debt-driven development programs that Chinese local governments tend to favor.

projections

Last year the Chinese economy grew 3%, one of the lowest levels in four decades. However, Xi Jinping’s government projected an expansion of 5% of GDP by 2023. “Judging from the situation in March, it is better than in January and February,” Li said.

In the speech, he admitted that the growth goal for the current year will not be easy to achieve. He also assured that Beijing will focus on avoiding big financial risks, pledging more state support for a private sector still affected by tough regulations on the real estate, technology and private education sectors.

“We will launch a series of new measures to expand market access,” he said without elaborating. “We will optimize the business environment (…) so that state-owned companies dare to improve their businesses, private companies dare to venture into them, and foreign companies dare to invest”exposed.

Meeting with Kristalina

The director of the IMF, Kristalina Georgievawitnessed the meeting of the boao forum, where he had a meeting with Li Qiang. “Honoured and privileged to meet with Premier Li Qiang”, he published on Twitter, in the last few hours, with the image of the meeting.

On her social media, the head of the IMF wrote: “We had an extremely interesting discussion on the outlook for the world and China, and we further strengthened the China-IMF partnership to address the challenges posed by climate change and vulnerable economies and low-income,” he said on Wednesday.

Source: Ambito

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