China to increase defense spending 7.2%, sets economic growth target of 'around 5%' for 2023 | CNN Business

China has set an official economic growth target of “around 5%” for 2023, as it seeks to revive the world’s second-largest economy after a year of tepid growth because of pandemic measures. It will also expand its defense budget 7.2%, marking a slight increase over growth the previous year.

But the disruptions started to fade away in January, and the economic recovery picked up pace last month. Official data released Wednesday showed China’s factories had their best month in nearly 11 years in February, underscoring how quickly economic activity has bounced back following the end of the Covid exit wave. The services and construction industries also had their best performance in two years.

The three blessed Europe, America and Russia, they are busy in war in Ukraine but China....

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How Executives Can Drive Business Resilience, Growth and Profits in 2023Executives 👋 Building resilience means tackling 3 variables that threaten to weigh down growth and profits in 2023: ✔ Higher interest rates ✔ Lack of available talent ✔ Lagging digital transformation Get ready to face these challenges and drive growth for your business ✅ BusinessGrowth Research DigitalTransformation SaveToNotion tweet consultancy
Source: Gartner_inc - 🏆 455. / 53 Read more »

Prestige Brands to Lead China’s Beauty Market Growth in 2023Last year, the top five prestige skin care brands in terms of sales growth on Tmall, Taobao and Douyin combined were Chanel, Guerlain, Sisley, La Mer and Helena Rubinstein.
Source: wwd - 🏆 24. / 68 Read more »