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China's targets for economic development in 2023

2023.03.14

China is seeking to make solid progress in advancing Chinese modernization, pursuing progress while ensuring stability and promoting high-quality development in 2023, according to the Government Work Report revealed at the opening meeting of the first session of the 14th National People's Congress in Beijing on Sunday.

 

Let's take a closer look at the development targets.

 

1 GDP growth of around 5 percent

 

 

2 Around 12 million new urban jobs

 

 

3 Surveyed urban unemployment rate of around 5.5 percent

 

 

4 CPI increase of around 3 percent

 

 

5 Grain output of over 650 million metric tons

 

 

6 A deficit-to-GDP ratio of 3 percent

 

 

7 3.8 trillion yuan to be allocated for special-purpose bonds for local governments

 

 

8 The extension of rural land contracts for an additional 30 years

 

 

9 Steady increases in both the volume and quality of imports and exports and a basic equilibrium in the balance of payments

 

 

10 Growth in personal income that is generally in step with economic growth

 

 

11 Continued reductions in energy consumption per unit of GDP and in the discharge of major pollutants, with priority on controlling fossil fuel consumption and steady improvements in the quality of the eco-environment.

 

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