In a speech at the World Economic Forum, Premier Li Qiang said on Tuesday that China’s economy grew by about 5.2% in 2023, slightly better than the official target Beijing had set.
Key quotes
“We did not seek short-term growth while accumulating long-term risks, rather we focused on strengthening the internal drivers.”
“Just as a healthy person often has a strong immune system, the Chinese economy can handle ups and downs in its performance. The overall trend of long-term growth will not change.”
“Even if there are twists and turns in China’s economic operation, its overall long-term positive trend will not change.”
“Choosing the Chinese market is not a risk, but an opportunity. So we embrace investments across businesses of all countries with open arms.”
Market reaction
At the time of writing, the AUD/USD pair is trading around 0.6587, up 0.07% on the day.
Source: https://www.fxstreet.com/news/chinas-premier-li-qiang-chinas-economy-grew-by-about-52-in-2023-202401162313