Link Securities| In his speech to the Summer Davos Forum, Chinese Premier Li Qiang said China is still on track to achieve its annual growth target of close to 5%, with 2Q2023 expected to grow faster than 1Q2023. The Chinese Premier acknowledged that China’s development still has imbalances and is inefficient, and that economic output per capita still remains low. He argued that companies, not governments, must decide how to de-risk their supply chains, in what was a reiteration of remarks made in Germany last week. Li also said that the Beijing government will deploy more practical and effective measures for opening up, although he did not elaborate on these.
Li Qiang says China remains on track to achieve its growth target of around 5% by 2023
