China’s economy set to return to steady growth

THE Chinese economy is expected to rebound and return to steady growth this year, with more jobs created on the back of expanding consumption and a recovering real estate sector, a senior political advisor said.

Ning Jizhe, vice-chairman of the Economic Affairs Committee of the National Committee of the Chinese People’s Political Consultative Conference, and also a political advisor, made the remarks right before the first session of the 14th National People’s Congress on Sunday, when the Chinese government set a modest target of “around 5 percent” for 2023 economic growth.

The Chinese economy grew 3 percent last year, a hard-won achievement considering the impact of COVID-19 as well as many uncertainties, said Ning, adding that the priority for 2023 and beyond is to ensure both the speed and quality of economic growth. Ideal growth should be one that is close to the growth potential of the huge Chinese economy.

Fidelity China Special Situations PLC (LON:FCSS), the UK’s largest China Investment Trust, capitalises on Fidelity’s extensive, locally-based analyst team to find attractive opportunities in a market too big to ignore.

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