China sets GDP growth target of around 5% for 2023

BEIJING – China has set its sights on expanding the economy by around 5 per cent in 2023, a more modest goal after it missed its 5.5 per cent target last year. The headline figure, captured in Premier Li Keqiang's annual work report to be delivered at the opening session of China's legislature on Sunday and seen by The Straits Times, was in line with external projections. Mr Li will deliver the work report – his last – at 9am. On Friday, the International Monetary Fund revised upwards China's 2023 growth outlook to 5.2 per cent, from its previous estimate…