China has set a target of 5% GDP growth in 2023, its outgoing premier has said in a speech to the ruling party’s rubber-stamp parliament – a goal that is at the lower end of analysts’ expectations and follows a 2022 figure that came in far below target.
The “work report” speech on Sunday also touched on foreign affairs and re-emphasised the Chinese Communist party’s (CCP’s) aim to annex Taiwan. Budget papers confirmed another consecutive rise in defence spending of 7.2%, slightly up on last year’s rise of 7.1%.
