China relies on the private sector to revive its economy after years of pandemic

The mayor of Shanghai hopes for growth of more than 5% for his city in 2023. REUTERS - ALY SONG

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1 min

As China prepares to record its worst economic growth in decades, after the “zero Covid-19” years, priority to the economy.

Gong Zheng, the mayor of Shanghai has just announced a 5.5% growth for his city next year.

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With our correspondent in China,

Stéphane Lagarde

Saving the world's second-largest economy requires boosting domestic consumption as global demand stagnates.

It also and above all involves a relaxation of controls on the private sector.

Stabilizing the economy is the 2023 priority for Chinese leaders.

"

We expect growth of around 5% for the full year

," said the mayor of Shanghai against the backdrop of perky music in

videos posted on state media sites on

 Monday, January 16.

Tech and digital

For this, Gong Zheng also highlights tech and digital companies: integrated circuits, biomedicine and artificial intelligence.

A reversal in relation to the decisions in particular of the Head of State in recent years aimed at curbing large private groups perceived as too powerful and "

disordered

".

The just-concluded Shanghai Party Congress set a target of 5.5 percent or more for the city's growth this year.

This was also what was announced for 2022. An objective undermined by the “zero Covid-19” health policy which was lifted in December.

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