The Chinese Prime Minister Appears to Give the Latest 'Hint' in Davos About the Chinese Economy!

<p>&nbsp;China's economy is expected to grow by 5.2% in 2023, indirectly surpassing the target set at the beginning of last year, said Chinese Premier Li Qiang in a speech at the World Economic Forum in Davos, Switzerland.</p><p><br /></p><p>Li said that China's economy is making progress at the same time, adding that it will continue to provide a "strong driving force" for global growth.</p><p><br /></p><p>The latest data shows that China is having trouble getting momemtum after strict Covid-19 restrictions. Despite an increase in exports in December, the world's second-largest economy continues to face deflationary pressures, weak consumer spending, and an ongoing real estate sector crisis, forcing some analysts to call on policymakers to issue more support measures.</p><p><br /></p><p><br /></p><p>However, Li argued that Beijing has promoted economic development in China without the need to introduce "massive stimulus." "We are not looking for short-term growth while accumulating long-term risks," he said.</p><p><br /></p><p>China's official GDP data for 2023 is expected to be announced on Wednesday. A poll of economists conducted by Reuters found that growth likely grew by 5.2% last year.</p><p><br /></p><p>China's GDP is expected to slow to 4.6% this year, before slowing further to 4.5% in 2025, according to a Reuters survey.</p>