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China s fiscal policy in 2023 will focus on expanding consumption, promoting technological advancement and enhancing food security, efforts to boost the country s economic recovery, read the report on the central and local government draft budgets for 2023 submitted to the ongoing session of National People s Congress (NPC).
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Editor’s Note:
On January 8, China downgraded pandemic management from category A to category B. The optimization of anti-COVID measures gave an immediate boost to economic activity. The International Monetary Fund raised forecast for China s economic growth in 2023 to 5.2 percent from 4.4 percent in October. Global Times (GT) reporter Liu Yang conducted an interview with Steven Alan Barnett (Barnett), senior IMF resident representative in China, and the representative shared his views on the significance of China’s economic revival this year, while calling for closer international cooperation in order to avoid the risk of fragmentation in the world economy.
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