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
Text by: RFI Follow
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.
Advertising
Read more
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.
►Also read
: China: with the Lunar New Year, the fear of a new wave of contamination
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
China
Coronavirus
Economic crisis