China's 2023 GDP growth target of around 5% achievable

On October 8, the Bank of China Research Institute released the "Economic and Financial Outlook Report for the Fourth Quarter of 2023", pointing out that China's short-term demand shortage is still prominent, and GDP growth is expected to be about 4.4% in the third quarter, down 1.1% compared to the first half of the year. In the fourth quarter, the endogenous growth momentum of China's economy will be strengthened, coupled with the low base of the same period last year. It is expected that the GDP will grow by around 5.7% in the fourth quarter and around 5.2% for the whole year, which means China’s annual growth target of 2023 is achievable.