China’s economy is widely expected to grow by more than 5% this year.Vcg | Visual China Group | Getty ImagesBEIJING — China set a growth target of “around 5%” for 2023, according to Premier Li Keqiang’s government work report released Sunday.Analysts generally expected China to set a GDP target of above 5% for 2023. The average forecast for growth is 5.24%, according to CNBC analysis.China also set a goal of 3% for the consumer price index, and a 5.5% unemployment rate for people in cities — with the creation of around 12 million new urban jobs. That’s more than last year’s target of “over 11 million.”The work report called for implementing “prudent monetary policy” in a “targeted” way. The deficit-to-GDP ratio is expected to increase to 3% from 2.8% last year, the report said.Li presented the report Sunday at the opening of the National People’s Congress, part of the annual “Two Sessions” parliamentary meeting. This is h …
